RE:A buck a barrelSince the prior quoted post , Ipco completed the Suffield acquisition which added 16 miliion barrels of reserves They have also sold 52800 bpd times 66 days or 3,484,800 barrels.
So total reserves should now be 1,661,515,200 barrels
Share count is now down to 130,885,746
Reserves per share = 12.69 barrels
Share price = 11.84
Cost per barrel of reserves = C $ 0.933
It should also be noted that while IPCO is reducing the share count by about 10 % per year , reserves due to production are only declining by 1,16 % per year
Oldnagger wrote: total reserves = 487,000,000 2p + 1,162,000,000 contingent = 1,649,000,000
shares = 134 ,343 ,640
reserves per share = 12.27
share price 12.37 Canadian Dollars