GREY:SDRYF - Post by User
Post by
gonecodeon Jan 17, 2011 11:35am
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Post# 17983745
More news..Not good ...Sorry !
More news..Not good ...Sorry !Just looking at the new Gemsa numbers and revised 2011 numbers also.........
The are betting the FARM on EXPLORATION ................Like I said...............Where's the OIL ..
NUMBERS NUMBERS...........
OH yeh they have none from the FRACS ..................
Here is the scoop on Gemsa....
The reserve life on that hole is about 17 million Recoverable Barrels and at this rate they have pumper over 4.2 million and they say they are increasing that to 12,000 to 15,000 in 2 years........So over 5.4 million barrels a year.....
AWWWWWWW
Really....... where did all the OIL come from .............
Do the Math................Unless they found more OIL. They never have yet !!!
NOT going to happen......
Gemsa will be way down in production before 2 years at this rate....They could be under 1000 by the end of 2 years at this rate.............Unless exploration finds more !!!
Draining it fast at 8500 BOPD a day......
And the furthur you read the worse it gets..........
Upside Potential is possible 5000 BOPD in 3 years with positive exploration ( they just dusted a hole)
Hows that going ???
and they have a NEW TARGET of 4000 BOPD in 3 years Maybe ...........
Now the REALLY BAD NEWS ........................They budget only 1 Million for drilling ONE exploration well.....
How do you find more oil betting on 1 well ????
Development wells and storage eat up 12 million dollars.....................OH BOY !!!!!!
Running low on CASH $$$$$$$$$$$$$$ by mid 2011...............
You better hit with that one well !!!! so far NOTHING ............