The wells were not put into production because it costs well over $100,000 a well to do so.

That's why POP raised over $2.5 million in a December private placement.

Now that they have the cash for this work, they are working on the 5 step out wells from the J5 property. They should all be in production by the end of February.

As well as the PPs, POP is generating cash from the 2 exploration wells it drilled last summer. The initial J5 well is generating over 80 barrels of oil a day and the original exploration well on J1 is generating over 40 barrels.

Forget about any BOED numbers since the gas lines can not be tied in until engineers have designed a system to gather the gas from all 6 of the J5 wells. However, that may be what some of the leftover money from the December PP will be used for. I'm just guessing about that though.

Cheers,

PW