GREY:CLLZF - Post by User
Comment by
watch4iton Oct 08, 2007 9:17pm
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Post# 13538868
RE: CONV. OIL/NG luke $235 MILL..NOW WORTH $350 M
RE: CONV. OIL/NG luke $235 MILL..NOW WORTH $350 M
LUKE OIL WAS PURCHASED FOR 205 MILLION WHEN OIL WAS ONLY WORTH ABOUT $50.00 PER BARREL
NOW OIL IS WORTH $80.00/b
50% OIL PRODUCTION FROM WELLS
50% NG
DRILLED 19 MORE WELLS LAST YEAR
11 POSSIBLE PRODUCERS.
8 ABANDONED.
COST $30 MILLION WHEN OIL WAS $60 / BARREL
NOW LUKE ASSETS ARE WORTH$240,000,000 EXPENDITURE PLUS CASHFLOW DUE TO $80.00/BARREL OIL
VALUE FOR SUCH ASSETS WOULD SELL ON OPEN MARKET FOR $300 MILLION OR MORE
EQUALING ABOUT $1.50 SHARE PRICE VALUE
INCLUDE THE CASHFLOW AND 100% INCREASE IN PROVEN RESERVES FOR LUKE OIL AND YOU SHOULD BE 2.50 OR MORE PER SHARE VALUE
$2.50/SHARE FOR THE LUKE ASSETS