CSE:SHP - Post Discussion
Post by
gpbhand14 on Jan 14, 2023 3:10pm
projecting SHP revenue from the first 2 wells
Both well 1 & 2 will probably produce 3000+ barrels per month with a pump assist. In addition well 1 will also produce natgas. Given the current price of oil the revenue from just the 2 wells will be between $6 million and $10 million annually. SHP with their 6.5% stake could generate a cash flow approaching $500K per year just from the 2 wells. Given the current share price SHP could reduce the float by 30% just from the cash flow from the 5 wells. The SP will probably jump into the $0.10 to $0.15 range within the next few months once the production numbers are announced. If Jarvis also at the same time announces some new plays where SHP is in control of the projects the price could jump to the $0.20 to $0.30 range
well 1.
Shelby was producing 50 barrels per day on a constricted basis . Which means they were testing flow rates for 5 days in each of May, June & July. This works out to daily flow rates on 50bpd for May, 58 for June and 64 for July. Recent Monthly Oil Production, (bbls) (Complete production available in file saved using blue button at top of page.) well 2
produces 2244 barrels for the moth of September (75 bpd)
Recent Monthly Oil Production, (bbls) (Complete production available in file saved using blue button at top of page.)
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