We are all very excited here at Synergy Oil, because after looking at the numbers, the economics of the Stott’s lease should exceed all expectations. We bought this lease for $200,000 with an NRI of 80% with the current production on this lease, the value of the lease should be over $1,000,000 for 2010; with more wells drilled the value will continue to increase, along with production.
We have completed drilling on the Stott’s #7 well, to the depth of 3650 feet, in the Cromwell payzone, which is 70 feet thick. The company that read our drilling logs, said that not only did we hit a well that should last 20 to 30 years, but we just discovered a whole new oil reservoir with up to 5 million barrels of oil in reserves.
Photo’s for the Ewell and Stott’s Lease are available here Oil Drilling Pictures
Leave a comment