RE: FACTS ON LFDg) Drilling of well to be completed in Q2 2011 and put into production in Q4 2011. Oil flow was 5,000 barrels of oil per day in 1936, most likely 20,000 barrels of oil be day in todays technology.
h) 2nd oil well to be drilled in Q3 2011 by LFD adding to production of 20,000 barrels of oil per day.
Your post should be titled SPECULATION ON LFD. I hope what you say is true, but it certainly is not a fact.
At 3.1 billion barrels of oil per day, an undeveloped oil field trades at $ 4 per barrel of oil per day giving property a value of approximately $ 13 billion.
A field that is ready for development or commerical oil trades at $ 14 per barrel of oil per day giving property a valued of $45 billion.
You are confusing OOIP with recoverable oil. Multiply your numbers by 0.2 or 0.3 or whatever you believe the recovery factor to be to get a better evaluation. The numbers will still look pretty good though.