TSXV:CEN.H - Post by User
Post by
Nodule7on Feb 12, 2013 6:48pm
424 Views
Post# 20977654
Credit Suisse
Credit Suisse Incremental:
- New seismic data has been acquired and will likely double to triple exploration running room from 487 mmbbls to 1.0-1.5 billion barrels
in recoverable resources. Based on new seismic data, CEN could likely high-grade their exploration prospects and change their drilling
program.
- Drilling permits are expected for the late Q2/13 and could alleviate bottleneck concerns.
- Still collecting production data from Eocene frac wells with second frac well cleaning up right now. Eocene frac wells with stabilized rates
of 400-500 bbls/d would be considered a good result, could open up new resource play (146 mmbbls, $19 un-risked).
- First two development wells at Bua Ban North were vertical wells in order to break-in the new drilling rig, the next 6 wells are likely to be
horizontal and will likely materially push production upwards.
- Within the next 2-3 weeks, CEN may decide to fast-track and drill the North Terrace high impact prospect (138 mmbbls, $21 un-risked).
- Of the exploration prospects, Benjarong is very compelling as it looks similar in geology to Bua Ban North, scheduled to be drilled in
Q4/13, 97 mmbbls ($15 un-risked).
download, page 7 : https://www.sendspace.com/file/nqm0hy