I wouldn't have presumed much as its only a small percentage 1.6% All these small percentages will eventually add up though. I've mentioned it before. We are going the same direction as MAGP. Not putting all our eggs in one basket. Our time will come as our portfolio increases.
I am invested here with average of 0.47, very disappointed and have been here a while, this is turning out to be a very poor investment decision on my part, not impressed with bod and shady dealings with ml aquisition of shares. Gonna take another year for this to move above 0.40, the drop to 0.30 was very suspicious in my opinion and I think bod wanted to bring price down on purpose. Very disappointed in goings on here. Bod extremely underhanded and investors have lost trust. Ml has done well out of it and he can wait a couple of years as he is getting wage.
43.7784 BOEPD to NTOG Chism trail 3rd Well Reworked now producing 59.2518 BOEP from September
25.25 BOEPD to NTOG Chism trail 4th Well
10 BOEPD to NTOG Chism traiL 5th well
CT 6 TBA 5% WI operated by Alta Mesa Holdings, L.P
CT7 Spudded 1.61% WI operated by Hinkle Oil and Gas, Inc
CT8 Spudded 2% WI operated by Stephens Production Company, LLC.
CT9 Spudded 7.375 WI operated by Husky Ventures, Inc.
CT10 Planning and Permitting Stage 1.875 WI Gastar
Verde 3 spudded and undergoing production testing results due anyday
Nostra Terra anticipates drilling multiple new wells with various operators during Q4 2013, one of which will be drilled by Ward Petroleum where the Company anticipates having a working interest of over 10%
Testing for Oil Drilling continues in stages: The crew drills, then runs and cements new casings, then drills again. When the rock cuttings from the mud reveal the oil sand from the reservoir rock, the crew may have reached the well's final depth. At this point, crew members remove the drilling apparatus from the hole and perform several tests to confirm this finding: Well logging - lowering electrical and gas sensors into the hole to take measurements of the rock formations there Drill-stem testing - lowering a device into the hole to measure the pressures, which will reveal whether reservoir rock has been reached Core samples - taking samples of rock to look for characteristics of reservoir rock Once they've reached the final depth, the crew completes the well to allow oil to flow into the casing in a controlled manner. First, they lower a perforating gun into the well to the production depth. The gun has explosive charges to create holes in the casing through which oil can flow. After the casing has been perforated, they run a small-diameter pipe (tubing) into the hole as a conduit for oil and gas to flow up through the well. A device called a packer is run down the outside of the tubing. When the packer is set at the production level, it's expanded to form a seal around the outside of the tubing. Finally, they connect a multi-valved structure called a Christmas tree to the top of the tubing and cement it to the top of the casing. The Christmas tree allows them to control the flow of oil from the well. After the well is completed, the crew must start the flow of oil into the well. For limestone reservoir rock, acid is pumped down the well and out the perforations. The acid dissolves channels in the limestone that lead oil into the well. For sandstone reservoir rock, a specially blended fluid containing proppants (sand, walnut shells, aluminum pellets) is pumped down the well and out the perforations. The pressure from this fluid makes small fractures in the sandstone that allow oil to flow into the well, while the proppants hold these fractures open. Once the oil is flowing, the oil rig is removed from the site and production equipment is set up to extract the oil from the well.
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