Possible Heavy Oil ReservesThe main reason CNE is moving is the possible reserves in its Capella dicovery in Columbia. If you take the 20,000 acre size and an average of 40 feet of pay, high porsosity and little shrinkage you can calculate 110 million barrels
of oil reserves. CNE's share 11 million barrels. Then, with the thick lower zone showing promise in well No. 6, this could be a very low estimate. The big factor is how the horizontal well to be drilled next fall performs. Comparing it to Canadian reservoirs with similar oil and depth characteristics it should be a barn burner. I can see how they attracted the high quality personnel they have. Hang on tight. This calculation also uses a 15 percent recovery factor which is very conservative. a high risk stock with a good risk reward profile. These reserves would give CNE about
4000 barrels a day.