OILEXCO - North Sea Oil

Re: Jw's Thoughts Daily Thoughts and Opinions and
« Reply #239 on Yesterday at 11:28pm »

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pretty excited just sitting here thinking about 22/2.

i keep hearing in my head ART on ROBTV saying 30,000 barrel per day 50 MILLION dollars per month in cash/flow from Brenda Nicol .....

then i begin to think what 55- 75 thousand barrels per day will ring thru our cash registar at 60 dollar oil ... Imagine 100 million per month in cash flow and the reality of it all is this isnt some half baked pipe dream it is all very real .

id also think these concertive anylst now will up there 4.5 times cash flow models as adding this much more oil extends reserve life

anything under 6 times cash flow certianty NOW after 22/2
is a joke but hey what ever turns the cranks for now .

go ahead use 5 time cash flow if you you want still very nice .
maybe ART will have us parked in the number 1 spot next on the TSX index performer lists end of 07

anyways...............

what a way to kick off 2007 with news of a large oil discovery that we own 100% intrest in also confirming it's development .my bet is we see 35,000 -40,000 more barrels per day from 22/2 shelley quite easy .....

I was pretty excited even before we drilled it but now they have determined it to be at a minium 7 sq km's in size and they belive it to extend futher north and south .
SO how big does it end up ?10 sq km's? 12 ? bigger?
at anyrate bigger than our 15/25 brenda for sure.....

i see why this was one of the most sought after block in the 23 rd round .i guess we shouldnt also forget the deep gas target on our 22/2 Shelley block that might just contain1 trillion cubic ft of gasAND it is now alot easier to go deep now when you got atleast 50 million(min) plus barrels of oil in the bag at 22/2.

here comes more royal bank of scotland development money eh????

So now onto ANOTHER existing oil discovery 15/26 named Kildare that already hit oil back years ago when oil prices were 18.00 per barrel .... how exciting is that

IF they DTI ever get around to announcing the 24 rd uk land awards i fully belive we should be awarded atleast 1 more existing oil discovery .

we own 2 rigs till 09 and 2010 and we got CEO who drills 24/7
7 days a week .

your witnessing will and determination alot of hard work and good old fashion growth thru the drill bit

go art go

go oil go



Re: Jw's Thoughts Daily Thoughts and Opinions and
« Reply #240 on Today at 1:45am »

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also without getting ahead of ourselves .

Next week we begin drilling on our EXISTING 15/26b Kildare discovery and "IF" successful IMHO could likely get tied into the TWEEDSMUIR info structure(all depends on its size) down on 21/1 ......

i put a red circle around our Kildare 15/26 discovery and the
the blue circle is the 21/1 TWEEDSMUIR (tailsmen) which just tied a 55 km pipeline into the Piper B platform from that field .....



Re: Jw's Thoughts Daily Thoughts and Opinions and
« Reply #241 on Today at 1:47am »