Post by
Toppicks1 on Apr 30, 2024 2:49pm
10 billion
Barrels and SEI owns 5%. So 500 million barrels. At 5$ a barrel in the ground that's 2.5 billion. About 8x what it's trading at. Worth the gamble why hell ya.
Comment by
swedeoil on Apr 30, 2024 4:00pm
It is 10 billion barrels of oil in place, NOT recoverable, they currently estimate 30% recovery, so SEI is 5% of 3 billion barrels at this time. which is around 150 million barrels recoverable to SEI. That said, with further appraisal drilling it could prove much larger than current estimates, AND it is likely thar recoverables will prove to be nearer 50% with modern extraction applications.
Comment by
geomanx02 on Apr 30, 2024 4:55pm
Actually 4% after 20% royalty....
Comment by
ExplodeTheBank on Apr 30, 2024 5:02pm
Theres no royalties of the percentage