Not the best section of Q&A John Bair 32:43 And also, I just wanted, I was looking at the slide deck on your Slide 6, under the probable possible, the third bullet point, says has proved undeveloped wells are drilled and put on production these locations would be reclassified approved undeveloped, is that a typo? Am I missing something on that? Jason Brown 33:04 No, it's just the nature of what classified as PUDs. Like I said, about 150 … John Bair 33:12 I mean if you bring them online wouldn’t they producing well? Jason Brown 33:19 Okay, well, let’s say that there's a PDP well, currently producing well, and then offset to that currently producing well. A location or two away they will classify as PUD currently. But the locations – there are three or four locations away or not classified as proved, their classified as probable, but as you drill a couple of these wells, then those other ones that are probable right now will become proved because they're closer to producing wells, if that makes sense. 33:52 So, right now, 150 of the 400 are within one or two locations of producing wells, which means they would be classified as a PUD right now. But as you continue to drill, more of those other remaining 250 wells or whatever will become proved. Does that make sense John? John Bair 34:17 I think so. I guess, if you're, if there are wells that are online and producing them, I guess… Jason Brown 34:28 No, those would definitely be PDP. But I'm saying that a lot of these probable or possible if as things get drilled closer to them, they'll go from probable to PUDs. John Bair 34:40 Yeah. Okay. Ryan Stash 34:42 I think you read [indiscernible] instead of the word these, just think about that that should be probable and possible as what I was referring to, right? So probable and possible locations would be [indiscernible]. John Bair 34:51 So, is there a typo there, am I? Jason Brown 34:54 No. Ryan Stash 34:56 Well it's referring to the whole category of probable and possible, okay. John Bair 35:01 Okay. Maybe we can talk about that offline. Last quick question,
Better Here- Leigh Curry (analyst) 40:25 I love this. I love that element of optionality as you described it there, it sort of allows you, if I'm understanding this correctly, it allows you to utilize the off optionality and decent drilling of what could be a fabulous bunch of probable and possible there, only if and when you want to and without [indiscernible] foundation, because you're not going along to every well they produced, is that a correct analysis? Jason Brown 40:58 No, that's right. That's right. I mean, but they are the right kind of partner for us. They have LPs and they do their operations out of cash flow and they give distributions very much like us. We do think that of – out of cash flow and we give a dividend. So, with the right kind of partner, you don’t want a partner that’s just going to outspend cash flow around. So, anyway, but yeah, I think you're seeing all that right. We're super excited about it.
The savant predicted Elon would buy something!!!! How do I do it Stoney? And I share it all here for free.
One word Stoney... Magnets! I have said this for years; just like EV's use regenerative braking, every highway in the US and around the world will embed permanent magnets in the roads on an any section of road that has even the slightest degree of downgrade. 1000's and 1000's of miles that will charge EV's for free. Have you ever watched your instantaneous mpg display? One minute you're getting the standard 25 mpg, and the next you're getting 47. Why, the slope of the road obviously. When you're on an upgrade, that 25 drops to maybe 19mpg, but as soon as you hit the downgrade, the car uses significantly less fuel. For EV's, this is a currently a wasted opportunity. You can't change the inclines, but you can sure as hell recharge on the declines. Gore Guggenheim should buy a magnet company and design a machine that plugs the highways with them. VZ's patented charging module will rest underneath 17MM EV's/year. The savant knows all Stoney! Elon called this weekend and want's me to attend his visionary savant conference this year.
Evolution Petroleum Corporation (EPM) Opened at $6.70 I missed it.... Waiting for pull back. NYSE American - Nasdaq Real Time Price. Currency in USD 7.50+0.31 (+4.31%) As of 09:38AM EDT.