115,085 Barrels per Texas RRC in 17 Production Months from from Feb 2011 to June 2012. Regardless of working interest percentage, it looks like the Hagen Eagle Ford wells are commercial and economic. Also interesting is that production has gone up in the past month from 3,140 barrels in May to 4,139 barrels in June. How has production gone up in the past month ?
crunch the numbers for yourself if you wish.
I would like for you to quote me on what I have posted that is misleading. I'm afraid for you nothing I have posted is misleading. aren't you the retard that claimed EFS wells decline 90% in 12 months ? yes you are, and here you are yesterday saying the decline is 70%, which one is it and how is that not misleading ? keep standing on the sidelines, I love laughing at you. LOL
look retard, you know why its of little concern the working interest ? because LEI has more land in this area and you are the jerk who claimed the wells would never amount to anything. now you are wrong and scrambling. ROTFLMAO !!!
These wells are now cash cows for LEI and they don't even have to do the milking. They have a hired man to do the work for them. How can that be a bad thing?
especially with production increasing from last month?
you are a treasure Mr. Fluffy, so you are upgrading LEI's acreage position terminology from "won't" to "may" in regards to economics. I knew you would bend over at some point. ROTFLMAO !! LOL !!!
You could be right but I don't think it will settle below two bucks. The market in general has been terrible and pulled lei down allot along with the stock sake they did. Oil supplies are starting to tighen up allot and this will push oil prices up. (the mid-east is a huge mess and not getting fixed soon)Iranian embargos are puttign pressure on supplies globally.
LEI also has premium product with light crude in east texas. highpriced, premium product, higher production all point to more value.
either way it has made a great move and I am very pleased!!!!
while the numbers on these well do prove commerical I still do not believe that LEI share price rise is based on BOD but on the sale of land that LEI is trying to pull off.
Gamblers are getting in on the bet as the results of that survey of the land gave a positive push for the sale. Not at anywhere near where those numbers would work out but more like 25% of that figure or 20% both of which would put the value of LEI at or above the 3 buck a share price. That is what the new money is chasing. The case and vol both slowed down today.
I do not expect the share price do go much higher from the sale unless a new PR shows it moving forward. Smart money will chase the buy out up to a point 2 bucks is a natural mental barrier and we are pushing up against that. I don't mind setting on 1.90 stock that I got for under a 1.50. News of sale will crash that 2 buck barrier and good production and cash flows numbers will as well. The only thing to mess up our fun is BAD NEWS.