Recent

% | $
Quotes you view appear here for quick access.

Tengasco Inc. Message Board

oubobcat60 10 posts  |  Last Activity: Mar 25, 2015 6:16 PM Member since: Jan 12, 2008
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • oubobcat60 by oubobcat60 Mar 25, 2015 6:16 PM Flag

    2013 total oil production 199,809 bbls 180 wells
    2014 total oil production 182,636 bbls 192 wells

    Howard well still going strong up from Nov 1087 bbls to Dec 1265 bbls; Albers B1 Up from Nov 801 bbls to Dec 1124 bbls; Veverka c2 up from 327 to 483; Harrison lease up from 335 to 502.

    2013 gas production 1,697 MCF
    2014 gas production 2,600 MCF (best since 2009)

    The Klewano lease had a workover or? Production in last three months 62, 197, 186 MCF best three months in a LONG time; Steitz lease last three months 114, 102, 106 (again best three months in a long time.)

    There were a lot of notations and reports (some seemed contradictory) on the two gas wells producing and one other on the Klewano lease. They were stamped 2014 but no production figures or expected production except notation " not capable of producing daily rate in excess of 250 MCF."

    Trust the 2014 10K will fill in more of the figures and maybe tell us about a new purchase or two.

    oubobcat60

  • Checking the master list of oil wells TGC has in the albers lease, KGC indicates in its last report that eight are producing. However, only production from four of the "producing" wells is reported. The A1 and A2 are reported on one line but only one well is indicated with production. Trust this means four wells are shut down and will be in production once oil prices rise.

    oubobcat60

  • oubobcat60 by oubobcat60 Mar 9, 2015 4:25 PM Flag

    Remember Howard A. In sept 160, bbls, in Oct 786 bbls, in Nov, 1087 bls It is still confidential so I'm starting to suspect TGC believes there are multiple zones and are lining up more territory in the area.

    Also as of Nov 2014 there are 192 wells producing. In 2013 there were 180 all year.

    Gas production in 2308 mcf for 11 months vs. 1697 for all of 2013. New source of revenue?

    Total oil production for 11 months was 165,845 so we probably won't match 2013's 199.809.

    But, it looks like TGC will be ready to MOVE when oil prices recover and we'll have a lot more promising land in which to drill new wells.

    oubobcat60

  • Reply to

    Gulf of Mexico

    by jerginsa Mar 3, 2015 1:38 PM
    oubobcat60 oubobcat60 Mar 5, 2015 11:44 AM Flag

    jerginsa,

    Checked this am and as of March 2, 2015 this is what I found: Hoactzin has two leases with 10,760 acres. Tengasco has none; Hoactzin has seven active bonds, Tengasco has five active bonds; Hoactzin had production in 2014 of 1,025 bbls of oil and 584,436 MCF of gas, Tengasco had none; Hoactzin has 16 boreholes listed, Tengasco has 9. For much of the other information is cost $80 per report. Could not get the page for liabilities. Ownership and responsibility is moving away from Tengasco and toward Hoactzin. I would start to feel more comfortable when Salas pays the 386,000 fine that Tengasco had to cough up and pay the bills he ran up and Tengasco keeps reporting on Tengasco's financial statements. The 10K should be out in a few weeks. Maybe more will be cleared up. Hopefully, we'll see a statement from Tengasco's bank showing that they CAN borrow If necessary for a major purchase.

    oubobcat60

  • Reply to

    debt

    by babydog1997 Feb 5, 2015 8:02 AM
    oubobcat60 oubobcat60 Feb 7, 2015 10:03 PM Flag

    stinky,

    "What am I missing?" you ask. You are missing the whole Hoactzin fiasco. This has cost Tengasco millions of dollars, a lost CEO (Bailey), a lost executive (Macinturff), hundreds, if not thousands of hours of paperwork for Hoactzin, a $386,000 fine for which Hoactzin was 100 per cent responsible, all of which kept Tengasco from expanding its own operations. Maybe, just maybe Tengasco will be free of Hoactzin complications. But don't wait for Salas to make any sense of what he thinks he's doing. Review the Capco mess Salas got into thinking he was going to be an oil baron. That still is complicated. He thought Tengasco's Bailey and Macinturff would make it fly. If anything, it is still crashing. So Salas still believes. He paid $25,000 of his own money to get a GOM Lease, taking over some of the Capco, Tengasco administered properties. Salas got his third extension in trying to make that work and it doesn't look like anything will happen there in 2015. As long as Tengasco is NOT involved and will not have to do the work with the boreholes (still in Tengasco's name), pipelines (still in Tengasco's name) and platforms (still in Tengasco's name), Tengasco might have the opportunity to become its own company. WE still have to wait to see how CLEAR Tengasco will be in GOM operations. Once, all rid of Hoactzin, Tengasco can become its own oil company.
    Even with Rugen, the accountant, Tengasco picked up some leases in Saline County. This new area for them that seems promising. They also have a lot of opportunity in Trego County. Perhaps the low oil prices will work to Tengasco's advantage and they will be able to pick up more new territories. I know Bailey wanted to but Hoactzin kept his hands tied and was using Tengasco's funds. TOO SOON TO GIVE A BRIGHT GREEN LIGHT BUT AT LEAST THE FLASHING RED IS FADING AWAY.

    oubobcat 60

  • oubobcat60 by oubobcat60 Feb 4, 2015 11:51 PM Flag

    Overall, production was not great. However, the Howard prospect, as mentioned before, could be good news. The Howard A had September production of 160 bbls; October production was 786 bbls. Still no info RE production on the other Howard well. Also no report on the Saline County activity.

    oubobcat60

  • Reply to

    Mai C 1-14

    by oubobcat60 Jan 12, 2015 11:32 AM
    oubobcat60 oubobcat60 Jan 22, 2015 7:54 PM Flag

    aquinas,

    Sorry this is another D & A. Maybe we'll get back to Saline County.

    oubobcat60

  • oubobcat60 by oubobcat60 Jan 12, 2015 11:32 AM Flag

    Spudded. After six P & A wells in the Mai lease , maybe number seven will be lucky.

    oubobcat60

  • Reply to

    Production down, Confidentiality up

    by oubobcat60 Jan 9, 2015 11:35 PM
    oubobcat60 oubobcat60 Jan 10, 2015 12:50 PM Flag

    aquinas,

    The definite answer I can give is it is NOT bad news.

    I suspect there are multiple zones of producing quantity in the Howard lease. Usually, as MK (I really missed him, he could really shed GOOD information on this) explained, production is from one zone before pumping from another. BUT, there may be very good reasons for trying to identify exactly how large the zones are and when they have to be pumped or sealed.

    So let me try to re-construct the chronology: the old Howard 1 was declared dry and abandoned 5 July 2007. The new Howard 1 re-entry was completed 9 September 2014 with no initial production reported. The Howard A 1 is reported as producing with no initial production given. The Howard A produced 160 bbls in September but we don't know IF that was since September 1 (doubtful), the whole month (doubtful) or part of the month, likely since they are testing other zones after September 9. Most optimistic possible news, TGC had reason to drill deeper than original intent. But no new intent was submitted and the re-entry may still be in effect even though it was reported as "completed." The above is based on a few facts, much speculation, without knowledge of what the logs might have indicated which MK was pretty good at analyzing. Mk! help us if you can. Thanks.

    oubobcat60

    p.s. Supposedly confidentiality was NOT granted on the re-entry but I don't know whether that can be reviewed since the completion date was NOT listed on the report for the re-entry.
    pp.ss. Two years ago, due west about a mile the Palonimo well came in with 140 bbl initial production.

  • Figures for September production have been released. Production is down about 1,000 barrels from August production.

    Strange news RE: the Howard A 1... which is no longer listed (?) but is still Confidential until April 1, 2015. The Howard A reported production of 160 bbls. and the Howard 1 requested confidentially as of January 5, 2015.

    oubobcat60

TGC
0.2349+0.0059(+2.58%)Mar 27 3:59 PMEDT