GREAT NEWS - LOWE#7 IS PRODUCING - 37 MCF/DAY
We are producing the Lowe #7 at this time. It is making all gas at this time(yesterday it made 37 mcf). When we shot the squeeze holes to do the cement job the well started producing through the squeeze holes which are 50’ above the where we want to perforate. I am not sure how long it will produce this way. We shall see. As soon as the pressure gets low enough we will run the cement bond log, perforate our two zones and acidize. In the mean time we will continue to produce gas. We will be sending out division orders to you and your people shortly.
At this rate and current gas prices, we are looking at a ROI per year of 33,6 % per 1 procent working one has. NOT BAD..:)
EnerGyne Resources