Post by
leakeybill on Apr 18, 2006 11:10pm
Burmis on track with Find
The consideration for the purchase of BME are only know by Find. They know that if BME take part in that gas plant expansion they will increase production by at least 666 boe from the prembina west, they know the impact if they added BME 25% interest of the play to their own and they know the potential of the play.
They know if BME is producing 3000boe today they will probably be producing 4000 bme in december. They know if they drill a nisku well under their 3d BME will likely own 25% of it. They know the price to pay the piper because these guys have the goods and elk point proved their track record.
So screw nav and concentrate on results, Find will likely buy them out at 5.00 dollars and be producing 1200 boe by year end. Kind of gives RER a run for its money and then they can start developing the nisku.
Tell me why find would engage their engineering consultants to revalue their reserves in April if it was not to establish a value to buy burmis or sell find. What do you think will happen, my guess is to buy burmis.