Latest project update G&F Oil inc. CCES, CCTW & J&M#7
CCES – 2 of the wells were not producing anything so I shut them down a long time ago(Carter North and Eagle Nest). The other 6 wells made 181 mcf total for last month. All I do is break this project even every month so I can hold the leases. After paying taxes, royalty and a small amount to the pumper – if there is any left I charge that to G & F operations so most of the months lately we do the operations for nothing. We basically have a depleted situation here.
CCTW – these 4 wells made 463 mcf last month. We got over $4/mcf so for the first time in a long time this project will show a little profit
J & M 7 – well still making 1 bbl/day oil, every once in a while it makes 2. We did sell a load in September so we will have a good month when we do Sept JIB.
Gary