av a look at this!, page-4

re: av (another) look at this!

Good morning Av

What a great effort putting together that post. I had a look at the PGS 2004 report and it states that East Esponda totals 469 hectares and that West Esponda totals 3976 hectares plus 259 hectares for the nearby Whiskey Draw. There are 2.3 acres per hectare.

Using the "80 acre" rule there are potentially 116 wells in West Esponda plus Whiskey Draw ... and possibly upwards of 150 depending on boarder issues. I think permitting application for the first 50 wells is under way. If you re do your sums on the above figures, potential profits look a lot better.

The Skull Creek permit area in Kansas is 11,573 hectares. Again I say that these initial projects are all abt early cash flow which I think is a responsible management strategy.

I agree with wiza's comment that the price action was strong as last week ... perhaps good news is on the way?

Cheers
Poyndexter