RE: RE: Time to Buy? Hardly.The Reserve engineers are hardly going to give any value for gas wells that are not producing anyway so that $7 million number is a bit of a misnomer.
BUK have to get the 5 Hamilton gas wells on in ealry 2011. Then they will be proved producing and the NPV will be higher. This is a new basin so there are no analogus for production and hence any reserve estimates will be very conservative.
The deeper Willow prospect has had a setback. People saw higher gas rates and liquids production so the dryhole has tempered their outlook.
Water/hydrate production from the gas well in the North sea could not be handled by the facility so they are upgrading. HAve you noticed the weather over there?
The news was not good but the rig is still there in Idaho. it will be back driling.
It is also Tax-loss selling season.
Bigbadun'