Investors Only: Oasis Update -- Current Presentation -- North Dakota, USA

Investors may be interested in looking at Oasis' current presentation.

Some highlights from the January, 2011,  presentation:

Two prospects in the Bakken

• West Williston, 201,700 net acres (North Dakota and Montana)
• Nesson Anticline, 131,000 net acres

Over 2,600 potential drilling sites
Oasis will add one rig in 2011; going from six to seven rigs
Slide 8: "primarily focused on Bakken" -- that might be the cake; the Three Folks will be the frosting?
EUR: 400 - 700 thousand bbls of oil
Cost per well completion: $7 million; 28 stage, 10,000-foot lateral; 65/35 ceramic mix
2011 CAPEX:

• 69 gross operated wells
• 47 net operated wells
• 53 net wells (operated and non-operated)
• Reminder: 7 rigs
• So, if I understand this correctly, Oasis will use its 7 rigs to drill 69 wells total. That makes sense: about 10 wells/rig over the course of the year

Costs/boe (I am not sure if I have interpreted slides 19 and 20 correctly)

• LOE ($/bbl):  $7.00 (slide 19)
• G&A ($/bbl): $10.00 (slide 20)
• Total: $17/bbl?

These numbers, by the way, are in the same ball park as CLR, which states in their most recent presentation that their "total cash costs" are $16.71/bbl (slide 23).