GREY:CLLZF - Post by User
Post by
strzelinon Jul 10, 2007 5:28pm
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Post# 13066436
Report and the bitumen prices
Report and the bitumen pricesFrom the report:
"Connacher’s proved plus probable (2P)
recoverable bitumen reserves increased 111 percent to 178 million barrels."
"Connacher’s 2P bitumen reserves were forecast to generate $2.7 billion of future net revenue"
$2.7 billion divided by 178 million barrels= $15.2 netback/bbl of bitumen.
What is wrong with this picture ?
From our previous discussion about Alberta bitumen prices it look like the netback for CLL is about $25/bbl.
JUREK