TSXV:ART.H - Post by User
Comment by
Baxter4on Mar 19, 2010 6:05pm
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Post# 16905083
RE: RE: Total BS
RE: RE: Total BS.Silvergug
You have to remember the 5 billion barrels is the high end of the oil in place. Recovery is much lower. Per the potential reserves report, recoveries in the formations are between 17% and 30%. For some reason in the same report they used between 16% and 17%. Still, the high end of potential reserves is 849MMbbl, worth over $11/share at good40's lowball estimate of $4/bbl. It is actually over $40/share using the $14.40/bbl per the worldwide reserve sales, but there is only a 10% chance of it being this high assuming the well strikes oil.
..that's the only sensilble reasoning in my mind eh!
...FIVE BILLION BARREL POTENTIAL, come on eh!
...this is ridiculous !!!