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Paramax Resources Ltd V.PXM



TSXV:PXM - Post by User

Comment by StockBadBoyon Aug 13, 2010 2:09pm
218 Views
Post# 17349162

RE: RE: RE: RE: RE: PXM

RE: RE: RE: RE: RE: PXMBigbadoil. Thank-you, that was what I hoped you would say. As from my reading of the slide deck on their web site several months back, the consultant suggested that each development area was likely $100M plus, thus half of this is $50M and since one well is $7.4 M, thus 5x on a conservative calculation gets us $35M or easily more around $50M plus to Paramax which is what the original estimate was.

So, 5 wells, each have a high probability to hit since they are in the pool and right next to each other (I suspect this just increased the flow by 5 times since there will be 5 wells), and we are off to the races. Thanks again.
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