Well there you go. An excellent and unexpected announcement...

Well there you go. An excellent and unexpected announcement which shows that they are going to utilise the current operating wells and get a ***significant amount more money*** out of them before they drill other wells.

Makes sense and the only thing I can't understand is why they didn't see and do this earlier? Why not work over the existing wells and get the maximum oil and money flowing in from them before going ahead with drilling of more wells? This will help them avoid raising money and with around $2M cash can give them a chance to look at further acquisitions.

By working over two or three operating wells they expect that it "should result in a ***significant increase in revenue*** for little outlay."

Although current oil production is relatively low when comparing to bigger companies (but then again so is the FUT market cap.), don't forget that "ultimate oil recoveries are expected to range from 50,000 through to 200,000 barrels drilled from land locations and in excess of 250,000 barrels for ***each successful well*** drilled from lake locations."

And let's not forget this: "***ownership*** of the only equipment available to drill and service wells on Catahoula Lake provides PLX with a significant competitive advantage over other explorers throughout the entire 30,000 acre area of the lake, almost all of which is prospective."