RE: RE: RE: RE: RE: EOG versus HRT Blocks justwin, the NI 51-101 report was based off vicinity wells plus Seismic Data they acquired from TGS NOPEC & Western Geco.
https://www.ecooilandgas.com/about_company/company_profile/
Advanced Exploration Program:
1. 2D Seismic data acquired on all offshore blocks from TGS NOPEC & Western Geco
2. NI 51-101 Resource Report on Cooper License block (P50) Best Estimate of 1.15 billion barrels of prospective oil
3. NI 51- 101 Resource Report on Sharon License block (P50) Best Estimate of 7.79 billion barrels of prospective oil
So for blocks on two license, NI 51-101 prospective resource of 9 billion barrels of oil (6.3 billion barrels net to EOG for their 70% working interest). Basically, the company was being valued as an exploration play with the assumption that they only had 1.15 billion barrels of prospective resource before March 8th but of course the Sharon prospective resource numbers put them on another level. No one was expecting Sharon to be so large (it's already made those blocks bigger than HRT prospective resources for parts of their Walvis and Orange blocks combined which amounted to 6.9 billion boe, see link below). EOG prospective resources is now bigger than African oil and CGX energy which prior to this week were considered the Canadian juniors with biggest offshore potential - AOI market cap is $468 million, OYL market cap is $447 million, EOG market cap is $50 million. Remember all face similar risk in making a discovery so it's only time for EOG to get into that $400 plus million number.
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=30791185&l=0&r=0&s=EOG&t=LIST