Petro Inti Well Cost from 2100 to 3700 Metres

Extension Well Cost Down To Deepest Targets

Extended Well Cost to 3700 Meters Work Description: Drill 6.125" hole from 2100 m. to 3700 m. Log. Run 5" liner to 3700 m. casing. Complete with a single string 2.375" tubing. Test. Costs were extrapolated from a higher cost inaccessible jungle.

PetroInti
13 Charlottetown Place
St. John's, Newfoundland
A1A 2P5

FAX: 1 (709) REX-LIMA

These costs are assume the worst. Cost control should greatly reduce cost.
Any questions regarding this well cost schedule should be addressed to PetroInti.

Well Cost Schedule from 2100 to 3700 Meters, 
Slimhole to the base of the deepest target 

                              P/DAY        DRILL    RUN CSG       TOTAL
                               COST        & LOG   TEST, COM    WELL COST
Expenses  \  Days  >                          30          7           37
Administrative Overhead        1500        45000      10500        55500
Bits, Scrapers, Reamers                    20000       2000        22000
Camp and Catering               600        18000       4200        22200
Casing Inspection & Repair                 15000      10000        25000
Cementing                                  25000      15000        40000
Contract Labour                 200         6000       1400         7400
Core Handle and Analysis                   20000      10000        30000
Direct Supervision             1300        39000       9100        48100
Drilling Rig                  10000       300000      70000       370000
Electric Logging                          110000      50000       160000
Formation & WSO Tests                      15000      20000        35000
Lab Tests                                   5000      10000        15000
Location & Road +/- 5 km.                      0          0            0
Air Strip,Wharf,Whse&Camp                      0          0            0
Misc. Services                  500        15000       3500        18500
Misc. Supplies                  200         6000       1400         7400
Mud & Chemicals, MW=9.0                        0      20000        20000
Mud Logging                     600        18000       4200        22200
Other Maint. & Repairs          200         6000       1400         7400
Perforating                                    0      26000        26000
Rig Mob & Demob                                0          0            0
Tool & Equipment Rentals       1500        45000      10500        55500
Trans. - Materials                         50000      50000       100000
Trans. - Others                 500        15000       3500        18500
Well Stimulation                               0      50000        50000
Water Supply                                   0          0            0
Contingency 20%                           154600      76540       231140

TOTAL INTANGIBLES                         927600     459240      1386840

Casing - 9.625"                                0          0            0
Casing - Production 7"                         0      90000        90000
Casing Accessories                         35000      15000        50000
Downhole Equipment                             0      20000        20000
Surface Lift Equipment                         0          0            0
Tubing                                    -40000      70000        30000
Wellhead Equipment                             0          0            0

TOTAL TANGIBLES                            -5000     195000       190000

TOTAL                                     922600     654240      1576840

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Shallow Drilling