The harsh reality of getting a job done successfully is often lost on most consumers and investors. The end result and the immediate gratification that goes along with it is all that people really care about. Before a product gets to the consumer, however, quite a bit of hard work and frustration must be dealt with and overcome. Ultimately, if a product has value, the hardships faced are worth the effort and a solid product results. A company that can make it through these hardships is a company that will offer the ultimate rewards any investor is looking for.
Eden Energy Inc., an oil and gas exploration and development company, works to locate and exploit oil and gas deposits primarily in the Rocky Mountain region of North America. The company has had solid successes at its Colorado leases and somewhat disappointing results at its Canadian properties.
If the true nature of oil and gas exploration and development is told, it would include the inherent successes and failures of drilling for oil and gas. Eden Energy is a good example of how a company can strike a solid find in one moment and “suck air” in the next. Overall, the company remains on the upside of the process but has found success and disappointments along the line. Currently, the company is following its successes at its Colorado leases by adding drill locations and transporting an estimated 1,265 mcf/d of natural gas to market.
In coming months, the company plans to extend its operations at its White River Dome leases. By the end of 2008, it plans to complete and have tied into its gathering system 4 additional wells. In addition to this work, the company also plans to further its Federal agreement at the Ant Hill location in Colorado, which is generally considered low-risk.
Most people not involved with the oil and gas exploration process just want to see the oil and gas flow to market. They also continually complain that not enough exploration on domestic leases is occurring. What these same people fail to see is that there is a reason it is called “exploration”. Eden Energy is knee deep in the exploration process and generating revenue in the process. Oil and gas exploration may look to be a science, but Eden Energy is slogging through the reality to show solid results in a difficult game.
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