calimera : Edge Res.mit Nichol und Cooper von Aroway Energy
Edge Makes Oil-Focused Acquisition and Increases Production
February 1, 2012
The Acquisition consists of the following:
- Current production of approximately 350 boe/day (65% oil)
- 100% working interest in 19 sections of Crown land plus 2 sections of land upon which the Company has acquired Gross Overriding Royalty (?GOR?) interests
- Over 25 sections of proprietary 3D seismic
- Over 125km of proprietary 2D seismic lines
- 30km of natural gas pipeline and associated infrastructure
Nichol added, ?The Acquisition brings our total current production to over 900 boe/day and increases our oil weighting and immediate cash flow. We are very pleased to have taken 100% ownership of this asset, as controlling our own destiny has always been important to controlling our own success. We look forward to developing this asset and the multiple promising horizons it encompasses, to its fullest potential, which we feel can be largely accomplished through relatively shallow, conventional, vertical, low-cost wells.?
When you pay peanuts, you get monkeys to work for you.
Keine Kauf- oder Verkaufsempfehlung !