Could you tell us the basis of saying the two new wells they are tieing in February will do 100 boe/d combined?
The company says each well comes on at around 150 boe/d, and their presentation said that, but you are saying they come on at 50 barrels a day? How will they reach payout in 8 to 10 months like the company is saying? The company says 150 barrels a day, and you say 50 barrels a day? Could you explain this, and show the press release that illustrates this.
From my discussion with the company, they should do at least another 10 wells this year at Michichi, and that will add 12- 1500 barrels a day, they pay out in 10 months, and that will take production over 3,000 barrels a day with ease. 10 wells at 2.5 million dollars each is only a 25 million dollar budget,which is easy to do.