Ann: FPL Completes $5.1m Placement, page-34

Dianella, forgive me for being a bit more positive LOL
They do have production in Kentucky still (which was on block but never sold) and from memory they only got 52?? boepd from Incremental for US$2m!

So after you add Kentucky and a couple of the earlier wells + HZ1 which did flow a little until shut in, they manged the over 100 for awhile.
But then you have to approx minus 25% for NRI then add taxes.

What would be really telling would be how much they have spent on wells in Pathfinder for what looks like 25 boepd if you minus Incremental and Kentucky. They'll never make the money sunk into HZ1 back after this long.
and the longer it goes until they get revenue, the payback moves to forever land on all those old wells.....
The cheap quick Pierre wells seem to have been a major fizzer....hence new approach yet again...but fracking aint cheap in them thar hills.

It would be way more than $20m all up already incl. G&A, maybe closer to $30m as they have put about $5m + into HZ1 alone.

Lets see if another $8.85m in 6 months can make any difference.