GREY:RDWEF - Post Discussion
Post by
hawkowl1 on Feb 18, 2011 1:14pm
February presentation
https://www.redwaterenergy.com/images/stories/presentations/rw_ppt_2_17_2011.pdf
Notice a recent recompletion on line in February.
1,305,000 OOIP.
Lets assume 10% recovery RED can book
130,000 barrels of oil proven from this 1 well.
Do the math by assigning $25 per barrel in the ground value.
$3,250,000.
I stand to be corrected if my numbers are debatable.
At Westlock they have 4000 acres(6.25 sections)
with OOIP of 500,000 barrels per 40 acres.
So a potential of 5 million barrels OOIP.
Again with 10% recovery those numbers impress for such a small company.
Be the first to comment on this post