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Bowood Energy Inc V.BWD



TSXV:BWD - Post by User

Comment by lockstock99on Mar 08, 2012 9:38pm
237 Views
Post# 19647130

RE: RE: RE: Off Topic, sort of

RE: RE: RE: Off Topic, sort of

Actually not off topic at all. If you look at their slide they indicate a per well cost of $2.5 million and an EOR of 135 thousand barrels giving an IRR of something like 90%- I don't have the slides in front of me. The per well cost seems incredibly low as does the eventual EOR. They are obviously being noncommittal about the Alberta Bakken at this point and to me the numbers they are putting out do not compute. No one is drilling at that low a cost and if that is all the recovery then this doesn't work out. Will be interested to see the results of the Argosy well to the north which is hopefully much better than these numbers indicate.

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