OTCPK:VREYD - Post by User
Post by
greeneggson Jun 10, 2008 11:06am
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Post# 15166220
840 drilling locations in Bakken and other
840 drilling locations in Bakken and otherSE sask plays. This is low risk development drilling. And at oil prices of 120 have a 6 million plus dollar NPV per well. If you're talking a success rate of 90% for these proven fields (look at success rates in the area) You're talking 4.53 billion dollar value. ($40 a share ) This on top of the value of 18,000 flowing barrels and the accompanying proven producing reserves with current 90 dollar netbacks---120 dollars on new royalty holiday production. Oh yeah, then there's the Alberta properites where horizontals are coming up with 400 per day of light oil production.
Yet here we sit at 20 bucks and no signs of moving higher until possilby fall.