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davidmarkblack

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davidmarkblack

Re: Wales Walker post# 5074

Sunday, 02/18/2007 4:29:19 PM

Sunday, February 18, 2007 4:29:19 PM

Post# of 51429
The geological formations under Hemi's leases, known as James Lime, Cotton Valley and Travis Peak, are the same formations that are under the major gas field that is now only approximately four miles to the north in Shelby County.

In the past these leases have had two producing gas wells, but because of economic reasons they were abandoned in the 1970s. Major oil companies have been developing and producing these natural gas fields for over five years which started approximately 15 miles away and have been steadily trending toward the Hemi leases. Currently new gas wells are being drilled approximately 4 miles north. The width of the proven gas reserves in these geological formations are narrow, being only 5 to 10 miles wide. The average gas well in this major gas field in Shelby County typically produces over 2,000 MCF per day 2(mMCF) or gross revenue of approximately $360,000 per month. These gas wells and gas fields have common characteristics of a slow rate of decline in gas production and have an economically viable life of over ten years.

http://biz.yahoo.com/bw/070118/20070118005170.html?.v=1
http://www.investorshub.com/boards/read_msg.asp?message_id=17164950
http://www.investorshub.com/boards/read_msg.asp?message_id=16317353


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