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Paramax Resources Ltd V.PXM



TSXV:PXM - Post by User

Comment by StockBadBoyon Aug 13, 2010 1:23pm
235 Views
Post# 17348983

RE: RE: RE: PXM

RE: RE: RE: PXMBigbadoil. A question to you. The reserve mentioned in PXM's last press release indicated, "AJM calculated the proved and probable reserves in regard to the successful wells that were recently drilled in early 2010. The proven and probable reserves totalled 322,400 barrels of oil equivalent with a net present value of $7.4-million discounted at 10 per cent before tax. The successful wells cost the company -- when including drilling, casing and testing -- approximately $1.79-million. This resulted in proved plus probable net present value before tax, discounted at 10 per cent, of more than $7.4-million net to Paramax.". You seem to know this stuff, is the $7.4 Million net to Paramax the estimate to be produced from that well drilled or the entire field. If it is the entire field, that doesn't seem like much money when it would take 5 time $1.79M or the cost of the field. Perhaps you could clarify the potential of the field and each well if you could.
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