Crew Energy Inc T.CR

net acres calculation

[og1959]

per the AIF on sedar- 

W Septimus- 34,878 net acres
Septimus- 14,393 net acres
Tower- 34,570 net acres
Attachie- 37,785 net acres
Ground Birch- 132,060 net acres

Total net acres- March 2020 253,686 (typically 80 to 97% interest)

Feb 8 reserve reconciliation indicates that there was some disposition of reserves in 2020.

I doubt there has been a significant sale- it would have to be press released.

However, still in a great position.  Groundbirch is one of 3 focus area for TOU.

[BeatTheOddsSqua]

OG Please check slide 23 of the presentation. The AIF numbers don't seem to match very well with Crew's land map. For example Ground Birch at 206 sections and Tower at 54. These section counts can only get larger if Crew's interest is less than 100%         Net Acres Sections W Septimus 34

[gonatgasgo]

The more I read about it, the less convinced I am that they sold Attachie.   The 225,000 acres is clearly the undeveloped acres.  There is no question about that one. Could the 277,000 acres be developed and undeveloped?  How many acres are currently being used? How can one determine the number of sections by looking at the map on page 23? The AIF indicated Attachie at

[Cheadle12]

Where is Oak/Flatrock then?  It's not even on any of the new maps in the deck.. have a look.

[gonatgasgo]

I dont know. I hope you are right and they sold something big. That would pay for all the drilling. I would think if they sold something in Q4, they would have announced it in the Feb. 1st release.

[integrity11]

Beat the Odds I cannot see the chart showing Groundbirch with 206 sections on Slide 23 of the Presentation although if true this is potentially significant  as Page 28 of the February presentation shows Groundbirch having 156 sections. The difference is 50 Sections. Probably one of the numbers was published in error (can't see the 206 sections myself). If the Groundbirch acreage has

[TouchDown12]

Folks - would IR respond to a clarification? Or would they say that it will be discussed at Q4 release. They can't lie about it i don't think - so whatever they would say would point to some answer. Plausible deniability? I wasn't there (while they made the land sale ) therefore there is no sale from my point of view....LOL.... Let me know and i'll call tomorrow. TD12

[gonatgasgo]

Give them a call, but there is no way they would tell you they sold something.  They cannot give you that kind of information without telling everybody.

[BeatTheOddsSqua]

Integrity, I built that chart from OG1959's net acres per property from the AIF. It is not in the presentation. Excellent sleuth work on Oak Flatrock! What a team we all are...

[integrity11]

Thanks Best the Odds. This is very interesting. It appears Groundbirch net acreage is now 99,840. This looks like it could be great news for Crew shaeholders if the data if Groundbirch net acreage is actually 50 fewer acres. They still may have a gross acreage in all 206 sections of Groundbirch.

[integrity11]

Sorry 50 fewer sections not acres.