There are 38 oil wells and 13 coalbed methane gas wells on the properties currently producing approximately 59 barrels of oil and 475 MCF of gas a day. The working interests to be purchased currently gross approximately $103,000 per month and net approximately $83,000 a month after operating costs. There are approximately 78 additional locations on the producing coalbed properties.
The option must be exercised by April 3, 2005.
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