Eden Energy, PHUN's neighbour, just released results their results today.

For easier comparison, here are the totals for PHUN's wells:

16-21: Gas 1112 mcfd, Water 838 bbl/day

6-22: Gas 810 mcfd, Water 478

Here is an interesting video about Eden. The president seemed much more excited back then than he does now.

http://www.b-tv.com/features/watch-n...

Eden Energy Provides US Operational Update

Saturday, January 31, 2009

Eden Energy Corp. provides a corporate update on the Company, including an update on the drilling program at the White River Dome field in Colorado.

The Company drilled four wells in the White River Dome field during the 2008 drilling season. As of January 28, 2009 all of the wells have been tied in to the sales line and the Company is completing additional completion operations to get all wells flowing. As of January 28, 2009 the Company was producing approximately 1240 mcfd gross from its total of eight White River Dome wells.

The 2008 drilling program consisted of the following wells:

AHU 21-22
The well began producing on October 26 at an initial rate of 1310 mcfd and 380 bwpd on a 24/64’s choke. As of January 28, 2009 the well was producing at 340 mcfd.

AHU 7-43
The well was put on production on October 31 at an initial rate of 1390 mcfd and 625 bwpd on a 24/64’s choke. The well has produced intermittently during December and January due to high water rates and sand production. As of January 28, 2009 the well was shut in and the Company is working with the operator on turning the well to sales.

AHU 28-44
The well is currently experiencing high water rates and flowed intermittently during the month of December. The operator is currently working on turning the well to sales.

AHU 13-43
Pipeline construction was completed on January 21, 2009. The operator is currently working on turning this well to sales and the Company expects to have this well on production by the first week in February.

The costs and time to drill and complete these wells has been in line with original estimates. The costs and time to install pipeline and tie-in to sales have been above original estimates and the Company is currently in discussions with suppliers, subcontractors, and the Company’s operating partner to resolve these outstanding issues and their related costs. Until these issues are resolved the Company is not in a position to advance funds to settle all 2008 drilling program related accounts or claims.

The Company will be proceeding with an independent reserve report as at year end and will provide further updates at that time.

Donald Sharpe, president of Eden Energy, commented “We have been very frustrated with the delays in getting the wells tied in and producing to their full potential, but, by far the biggest issue we are facing is the severely depressed gas pricing in the Rocky Mountains. While production issues can and are being resolved, plunging gas prices cannot, and as we look ahead, these are of great concern to us. We are experiencing severely reduced cash flows and now that our 2008 program is wrapping up, we are reviewing our cost structure and will be making reductions where possible to better align with future expected monthly revenues. We do not foresee drilling additional wells in the 2009 drilling season and will continue to monitor the economics of the project before making further decisions in the White River Dome field.”