Message from the operator. - all investors have also gotten this message via direct email to them.
RECOMMENDATION: It is recommended to Mobilize a Rig and recomplete the Brown Odom Well No. 1 to the Lower Cam B sand. Initial rates are expected to be 100 BOPD and 500 MCF of Gas.
Estimated recoverable reserves for both lower lobes at +/- 100 MBO and 500 MMCF of gas.
DISCUSSION: The Brown Odom Well No. 1 was completed as an oil well in the Cam C sand on April 24, 2019 and has produced +/- 70 MBO to date. The well is currently being gas lifted making +/- 30 BOPD and +/- 700 BWPD. The well is on a constant decline and has more or less reached its economic limit.
Based on 100 BOPD will result in a payout of one month at $65 oil price.
Work is scheduled for Mid to Late January.
Plan is to move to the Brown-Odom Well after the Pintail Alley Gravel Pack- utilizing the same Rig.
The AFE is $50,000.00- A Division of Interest with Investor Payment Detail (Cash Call) is attached hereto.
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Should there be any questions, please feel free to call or come by for discussion.