This work has been planned for a while now to increase production and decrease production costs.
We anticipate 35-45 BOPD- Please see Write-Up.
Enlink personnel will be able to thoroughly evaluate damage soon.
Any reports sent- were early “what we knew at that time” reports.
Regardless- We plan to move forward with the AFE’d Work.
All: investors should an email send to them directly from the operator of this well, in regards to planned work
Please see the attached Authority for Expenditure (AFE) for the Cheramie Well- to change out Gas Lift System (now compromised by Storm Damage) to a Jet Pump System and replace tubing string (holes in the tubing).
A Division of Interest (DOI) detailing $ owed by each party is included in the Attachment.
Please reply via Email as to whether you elect to Participate or Not.
The Reservoir still has substantial reserves and we plan for oil production to increase from +/- 25 BOPD (before Hurricane Ida) to 35-45 BOPD.
Payout is estimated to be +/- 10 Months- with estimated reserve life of 5 plus years.
This is a Thirty Day Cash Call Election.