TSXV:CLAS.H - Post by User
Comment by
CalifDreamingon Dec 14, 2010 1:48pm
531 Views
Post# 17844509
RE: RE: Happy Now
RE: RE: Happy NowGo sign up and read it yourself. Access to Jennings research is free.
But since you aren't the brightest bulb in the pack, results are expected this week.
The conclusion is really bullish:
Conclusion. The Canaguaro block holds a tremendous amount of short-term upside. We
believe the market is valuing in the success at Canaguaro as a +2,000 Bbl/d per well
field. The initial test rate from the Lower Mirador was 2,225 Bbl/d; keep in mind the Upper
Mirador is currently being tested and it held the majority of the Mirador net oil pay. As
mentioned above, the Upper Mirador at Balay-1 produced +1,000 Bbl/d on natural flow.
Assuming the Upper Mirador is as productive as at Balay-1, the Canaguay-1 well could
produce at multiples more than 2,225 Bbl/d with an ESP installed, especially if the
Mirador intervals are commingled. If the average Canaguaro well produces at our I.P.
estimate of 2,500 Bbl/d, then the Company has an ExNAV of US
.36/share, which
increases to US
.55/share if we increase our I.P. estimate to 6,000 Bbl/d.