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I was at the Money Show Friday and sat in on the presentation LEI gave.
In the presentation they claimed they were doing 200 bbl's/day right now and they told the audiance that was their breakeven point.
Then they claimed the target for 2011 was to get to 600 bbl/day production and there was nothing but upside from here as they are at breakeven of 200 bbl/day right now.
I have no position in LEI and don't care either way, but these are the notes I took.
Thanks for info. The 90 bopd net was of course the average for Q4. So if 200 bopd now (and this would include the Hagen EF #1 which is about 30 bopd (ratchet down the 350 peak bopd, then minus 25% royalties, then times 15%)), this implies that on 2-11 they were doing 170 bopd sans Hagen EF #1H. I suppose one could argue that the December exit rate was about 150 bopd, but that would imply that Oct and Nov were 60 or so. Either way, my head hurts now, it should not be this difficult. The holy grail: List of producing wells with 6 columns. County, Partner, Well Name, ITD Gross Production, ITD Net Production, ITD NAR (updated Monthly). List of Leases with 7 columns. County, Partner, Lease Name, Gross Acreage, Net Acreage to Depth 1, Net Acreage to Depth 2. Producing Well? (Y/N).