In the last quarterly the company reported average production of 108 BOPD, with JW Powell Well now producing and contributing an additional 220 BOPD the Apr-Jun qtr should see total production of 29520 BOPD approx. Based on an average of $60 US per barrel that equates to revenue of $1,771,200 for the qtr.
If the remaining drilling of 1200 feet at Amerigo Vespucci #1 well planned to be completed in April 2019 is successful further BOPD production increases will be seen.
FPL Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held