Mon, 1 Dec 2008|
Automatically Generated Transcript (may not be 100% accurate)
And our next presenting companies is Callon Petroleum and columns and independent oil and gas company headquartered. And Houston and joining us they register -- -- can now. Thank you for having us. It's running on this. Let's get started bird those views are not familiar with the company. -- -- company. -- New York Stock Exchange went public in 1994. Headquartered in Natchez Mississippi offices here in Houston. We early Gulf of Mexico companies. Focuses in deep water -- well as a show. In a -- played today. 450 million dollars. Again our focus is strictly offshore Gulf of Mexico little. Poland south and transition -- Over the last. Five to ten years the company is focused and in the deep border region and those who follow the company -- one. Or true project in trot. That we're in the middle of right now and development -- Again strong deep water presents. Re major discoveries in the -- deep water. Medusa which is operative number fuel. -- and Euro which has offered about show. And in trauma. Which we now operate. Just a quick look at our major properties. Starting with -- -- It movement uses. Operated -- -- fuel. 200 feet of water -- news and 1990. And we think all -- here have some 85 million barrels. -- one. Horrors. Number different. Opportunities for re completions -- -- tracks continues Google field. Currently we've problems with. Yes export lines. We're currently player. And wellness. Cells and girls won't -- We just -- -- back. Now land full production rights. Sometime in the next two weeks. And we've got -- pre hurricane rates. You know 151000 girls -- fourteen million BP yesterday. -- producing wells -- We only 50% working interest out here and NC from the production profile green course issuing some missed or production yellow. We anticipate from our current. Print servers and just pointing out we do have opportunities as production. Went to Mexico to decline right. We view opportunities or re completions inside tracks -- continued. To use increase production here for these -- years. Looking at how to narrow -- narrow is operated by -- shell. Look it out in the harbor basin. Again actually discovery. Back in 1999. -- 2000 feet of water. We've got. Two wells out here -- sub sea tie back to shells arbor facility. We think ultimately be looking at some forty million barrels level equivalent. As of today we are back -- -- and producing some 6200 veritable. Eight million cubic feet yes today. And again you'll see the production profile. Again the green. As well as the yellow. -- anticipated. Opportunities. Particularly additional sidetracked coming up in several years as we continued to deplete. You know the number two well at some point -- have an opportunity to. To a -- get up -- as we did the number one well last year. And again significant increase production. Here. In -- -- our third deep water discovery. The discovery was drilled in the year 2000. With a company called -- are later we have a 20% working interest best -- -- eighty. And and we spend a number of years when BP -- ultimately required to fuel and finally put together a development play and out here. And we're located -- in the -- South of the arbor based out here -- prolific -- out here and we're located just of the west the magnolia field. Which is operated by ConocoPhillips. And -- the development plan we came up with. With BP was the two will sub sea tie back to the magnolia -- -- And the last year we went and and part BP's interest. And so today we only 50% working interest. The initial two well you see here were drilled again back in 2000 move numbers side tracks. Think we -- looking at roughly 32 million barrels of -- are -- out here with upside potential. Both from some deeper slams as well as we think -- smaller opportunities. That we could exploit. In the future -- the blocks. So say at the development plan is -- two will sub sea tie back. This churches the proposed development. With we're for cougars -- number three well here in the foreground which is currently drilling. -- -- than to move to -- number four well plea yet. And then Tavis and the -- -- -- -- the with the third connection they're being in -- up stories will that we despite throwing in a few years prospect -- little -- We have well -- a planned comeback and truly. You know well there and time again. The sort of gave you ready recap of -- what's happened out at in trotted you're in the last year. You know we win in -- part BP's 80% working interest in April 2007. -- then solely 50% interest. To our partner -- yeah eco energy. So severe that it took -- corporation. Large. Oldest Japanese trading companies. So -- our partner and now we're 5050 year and we operate the fuel. -- -- get started -- -- cargo operations. Currently drilling the number three well. And plans are to. He finished drilling the three and four well and how those and some time the in the second quarter of next year.