quote:

Originally posted by Senior:
A side note on this very good discussion--Datz's Granny struck oil this week.

That's great news
http://www.ogs.ou.edu/oilgasfaq.php#5


Any clues as to the name of the formation tapped?

Don't know the name but I do know it was at 5800 feet. Won't have production numbers for about 3 months but even if it is a piddler (20-25 bbls/day) it will be worth $20,000 to $30,000/month royalties to Granny. Evidence so far is that it will produce much more than that since they thought at first it was going to be free flowing. The producers are installing the pump this week and we'll know more once it goes into production. Since it is a deep well as opposed to a shallow one it should have a fairly long production life.

Wow.. Thats awesome news! Couldn't have been at a better time, either.

This is up on great uncle James' property, right?

That's correct. Since the original homestead is 160 acres there are potentially 3 more wells.

quote:

Originally posted by Senior:
That's correct. Since the original homestead is 160 acres there are potentially 3 more wells.

Nice! Anybody looking for a farmhand!?

Was Gramma out shootin' up some food when she made the discovery?

Black Gold,Texas Tea?

talk about getting lucky.

So Datz--OK Granny's in the back seat, I get to be Jed, so you must be cousin Jethro. I don't think your Granny's going to pack up and head to the hills though. She's talking about a long term trust to just let it all grow.

quote:

Originally posted by Senior:


So Datz--OK Granny's in the back seat, I get to be Jed, so you must be cousin Jethro. I don't think your Granny's going to pack up and head to the hills though. She's talking about a long term trust to just let it all grow.

Smart to do the living trust.

I kept thinkin of the Beverly Hillbilly's all day today after your post yesterday.

............
Now this is a story of a man named James.
An Oklahoma farmer who had wandered cross the plains....

http://www.google.com/search?hl=en&q=pelosi+sham+bill&aq=f&oq=

http://article.nationalreview.com/?q=N2Q1YTMwMDBhMTk4MD...MmYzZjUxMWJhZGU2YTQ=

http://johnshadegg.house.gov/

"...The liberal media is already giving Pelosi political cover and repeating the lie.

Within minutes of the passage of this "sham legislation":

Reuters wrote: "The U.S. House of Representatives passed legislation Tuesday that lifts a longstanding ban on offshore oil drilling, opening most of the U.S. coastline to exploration."

The New York Times wrote: "The House on Tuesday night approved a measure that would ease a longstanding ban on offshore oil drilling..."

CNN: "The House of Representatives on Tuesday night passed an energy bill clearing the way for more oil drilling off U.S. coasts..."


But the sad truth is that this legislation DOES NOT lift the ban on offshore drilling; it actually effectively puts MORE RESTRICTIONS on offshore drilling!

Fortunately, some news outlets are allowing the TRUTH to come out. Rep. John Shadegg published an editorial in the Wall Street Journal which lays out the facts on Pelosi's "energy hoax."

Shadegg wrote, in part:


"But the problem is that their plan, which passed the House yesterday and will likely come up for a vote in the Senate later this week, will not produce a single drop of oil." [Emphasis Mine]

"We're told that the Democrats now favor drilling. That they have seen the light after feeling the heat all summer. What's really happening is we're mid-way through a political hoax. [Emphasis Mine]

"Some 70% of Americans favor increased domestic drilling. Unfortunately, if Mrs. Pelosi and her party's leaders continue to play politics, we can be sure Americans won't get the energy they want."