uk

Jeez, this internet thingy is pretty handy stuff...

MEOL For Sale

--- Lidsey equipment is approx 18 months old..

--- Schlumberger reckon with barefoot horizontal wells (in 2002) we could get 500 bopd after initial flow that could exceed 1800bopd (If only for one month.. lol)

--- Costs of production are ridiculously low ($9-10bbl), as infrastructure is paid for Opex wont really change.

--- With the option of another 2 holes it does have real upside.

--- Tax position has a value of £1.02m... or half the buy price!..

This deal looks better and better all the time... sure it is not Tanzania but it appears to be a nice little earner for very little risk. It is multi bagger at this price imho.

Interesting to look at it side by side with Magellan Petroleum's acreage