RE:RE:RE:News ReleaseSo the numbers you just posted suggest those three wells are currently operating at 250/bloe or an average of 83.33 bpoe. The KJ success well was a exploration well targeting heavy oil. The miss there is costly. But necessary. The Teine well, that’s crazy low. But might be a bit too close to the Swiss cheese ground. Our more successful claims are more isolated.
This is is what I know... The published results of the company accepted for release by the TSX are an average of 110 bpoe for 3 wells. The next round of drilling is calling for SEVENTEEN of these wells.
At the current rate of 550 bpoe for 8 wells. That is an average of 68.75 bpoe per Viking well. Multiply that by 17 and you get 1,168.75 bpoe. To go with 550 bpoe. A grand total of 1,718.75 bpoe peak rate.
After declines this number likely remains over 1250 bpoe exit rate goal.
To me an unhedged producer with manageable growth debt with these production numbers should trade in a range of 100-200 million market cap. That means this stock could see .50-$1.00 by January. This is exactly the reason the stock isn’t selling off.
Drills are turning. Watch the volume. If they hit another great well, this will move fast! Could get there to my share price goal early if a big well was spud. I’ve seen gushers do crazy things to a stock in the past! That patch of ground east of Kindersley could be s game changer. Big lot. Out in the middle of basically never before drilled territory. The leases I am speaking of are those directly north of the small Plato claim. The pools in that area don’t have dozens of wells tapping them. Some great flows could be achieved in an untapped area like that!!