Our efforts to re-work seven of the nine designated wells has been a success. We ran into minor obstacles, as expected, but managed to overcome them with ease. We expect this trend to continue.
Our costs continue to come in lower than expected which has partially protected our investors from falling prices. Our low-cost structure allows our projects to generate profit despite the drop in prices. However, rate of return, at least in the short-run, will be negatively affected, as would be expected. You may request a revised Cash Flow Statement adjusted for current prices by calling or emailing our office.
Our plan is to continue to re-work the remaining two wells and begin the process of stimulating the wells, where appropriate. We also plan to drill the first of the four new wells sometime in the first quarter of 2015. Together with the re-works, if successful, the new drills should add significant production to the overall project. This means revenue growth to our investor partners. Please check this blog regularly for news about our current and future offerings as well as oil markets in general.
If you have any questions about oil investing please feel free to call Glenn Texas Oil anytime at: 1(888) 406-1734.