Monday, March 21, 2011

Lodgepole -- Oil for America -- The Jury Is Still Out -- North Dakota, USA

Finally, after coming off the confidential list a month ago, Oil for America is reporting production for:
  • 19258, 75, Oil for America, Zastoupil 22-1, Wildcat, Lodgepole
The "75 barrels" is the production for one (1) day in January. My enthusiasm for this well (and the others of this group) has waned, but I am still waiting for another couple months of production to see what "they" have. But the Lodgepole is supposed to be a reservoir (a pool of oil) that is sequestered and if hit will produce flowing oil without fracturing. But 75 barrels on one day is not encouraging.

But I am waiting for a) a few more months of production; and/or b) a press release from the company explaining their results and future plans.
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2 comments:

  1. Old OilMarch 22, 2011 at 4:21 PM

    A little worried this is becoming a shell game to draw investors.This along with COCBF just have a funny smell. I am sure they are still trying to hit a home run but data is very inconsistent. Have heard trouble paying bills!!!

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  2. Bruce OksolMarch 22, 2011 at 4:44 PM

    I share your concerns.

    COCBF remains in a narrow range, 9 to 13 cents, settling today at 10 cents.

    I was very, very enthusiastic about the possibilities, but maybe it was not meant to be. They still have about five wells to complete. And in the oil game you only need one home run. So, we will see, but I am a bit disappointed.

    Thank you for stopping by to comment.

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