OTCPK:MAUXF - Post by User
Comment by
Buddayon Jan 09, 2013 6:07pm
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Post# 20817621
RE: RE: RE: RE: RE: RE: 55 Degree
RE: RE: RE: RE: RE: RE: 55 Degree I'm new to the board and wanted to point something out. If you look at their latest presentation, it notes that the deeper sands are mainly gas condensates (which range in the mid 50 API range) and so it doesnt come as a surprise that the deeper zone of UMU 10 is such a high API. This is actually amazing news in the fact that it confirms the extension of the reservoir from the previously producing area given that they see the condensate in the deep sands from UMU 9. This condensate stuff is beautiful as previous posters noted but there are still the premium 40-45 API test oil rates to look forward to from the shallower sands which should follow a similar (fantastic) productivity as the sands tested in UMU 9 due to the confirmation that the sands are continuous to the UMU 10 well which also more importantly grows its proven reserves which is a major boost to the valuation of the company.
All the best,
Budday