RE: RE: RE: RE: RE: RE: RE: National Bank vs TDyour production numbers do NOT reflect the commodity...heavy oil simply does NOT flow at the rates you have quoted... aside form Iraq you may want to review numbers from other heavy oil (or oilsand) jurisdictions like Canada and Venezuela... NOTE I suggested Heavy OIl... SNV's target is "asphalt" (oil sands in N. American parlance).
IT has always been my assertion that these deliniation wells were an instrument to create a better defined reserves report 2-P or 3-P beyond the broad brush stroke of the initial "guess of "Billions" of Barrels... ONE should also note that with respect to heavy oil and cold flow extraction and even the MOST efficient SAGD operation only recovers less than 10% of OOIP (original oil in place) from primary extraction methods. I am extremely supportive of SNV... however I am not starry eyed about this investment it will NOT flip to 2-3 dollars over night... it will take 2-3 years of effort and near a billion dollars to get production anywhere near 20-30K BOE/D...
It's my opinion do your homework and git yer own...