GREY:CNKEF - Post by User
Comment by
efficientmyasson May 18, 2016 11:53pm
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Post# 24887296
RE:RE:280 Drilling Locations in Upper MONTNEY in Birley alone...
RE:RE:280 Drilling Locations in Upper MONTNEY in Birley alone...you do realize that those 160 locations are based on 29 sections mapped in the gas window....right? they have 170+ sections in total...most of it in the best part of the montney. They have also mapped 38 sections in the oil window (south of peace river) where 8 wells per section is feasable and at current pricing the discounted NAV on those wells should be $6mm+ ($7mm+ when the bc government announces a new royalty structure). Another $20-$30mm of drilling will de-risk that piece of the pie and then the company will likely be sold. when you start adding up the pieces, it's very easy to get north of a billion....more than a billion five if they hold out for $65 oil.