GREY:CLLZF - Post by User
Comment by
rehsifylfon Dec 29, 2010 10:06am
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Post# 17901083
RE: NR -> CLL sells Battrum properties
RE: NR -> CLL sells Battrum properties$82K per flowing bbl is at the very low end of my estimates. I had expected a minmum of $100K (see ealier post). Hyak got a good deal IMO as the Netback on the conventional was over $32/bbl with WTI avergaing $76/bbl. The $15/bbl gain since then is p;ure netback so they are looking at a price of $25/bbl for 2P and a netback of probably close to $50/bbl in 2010. Yes - there is risk the price of Oil will go down, but thats a pretty good deal for Hyak.
It is what it is, but I guess I expected more in this market. After commisions they'll probably get $50M. By the end of Q1 I bet price for flowing bbl for similar properties will be going for well north of $100K/bbl.