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Message: March Production numbers

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March Production numbers

posted on May 29, 08 05:05AM

Great news

March revenue from oil = $110(average price march) x 11444 BOE = $1,258,840

(For those new to this stock the second new well in Pelahatchie field came online the middle of March. Since March the company is working on a 3'rd & 4'th well which should significantly boost these numbers). From spud date, to production date, to the Mississippi Oil and Gas web site takes about 6 months.

A 12 month foreward projection of revenue based on $125 oil (conservative) and 12000 BOE = $18,000,000 dollars. The 3'rd and 4'th wells should add 75 BOE each. This would add another 7 million to revenue once these wells come online.

Yes the company is making "real progress" towards its goals. Be patient, and keep in mind that new wells will always perform better and have longer life expectancy than reworked wells. Things are turning around nicely for this company.

.

World oil prices

marchproduction.jpg picture by stockbagger

Keep checking back for news releases. When news is released I will post to this board.

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