Iron Brdg Res Inc. OEXFF

New Offsetting Production (March Volumes)

[Ditto99]

Public data has been updated. The offsetting Velvet wells are amazing, still on a rope between 450-550bbl/d. These monsters pay out in less than a year. Most on pace to produce 125,000 bbl's of oil in a year. These are amazing metrics, ~20% better than Vesta and Artis Duvernay wells and 10-15% cheaper, that the market is so jacked up about. Good to see IBR's 08-25 west well on production for the month, should support cash flow into Q2 when the two new 02-23 PAD wells will be on stream. Looking great, can't wait for well results in less than a month. 

Without considering the gas or associated NGL's, and assuming oil price realization of $80/bbl (Q4 WTI averaged $50.85bbl USD while IBR realized $67.93/bbl CAD. Oil is now over $70/bbl WTI USD), 125,000 bbl's of oil would generate $10,000,000 in revenue, again, this does not include anything from the gas or NGL stream. These wells cost $6-7mm to get on stream.