RE: RE: FEB 8 ProductionIMHO, we should substantially move now, over 1.70. TD was estimating a 4,939 (BOE/d) (ending June 30, 2011) and gave it a price target of 1.80, but I believe they upgraded it to $2 because of oil prices increasing. I just cannot find the article detailing the upgrade. Anyway, based on the info given we were producing approx. 2400 BOE/d, for the three months ended December 31, 2010 (if my calculations are correct). This is approx. 2500 BOE/D off TD’s June target. However, based on the Jan’s and Feb’s current production we substantially improve our BOE/D (4900 – 4400), only 500 BOE/D off the June target. If the market gives credit and forecasts based on the record production of approx. 6200 BOE/D (which drastically surpasses the June 4939BOE/D target) and plant upgrades in March, we could easily be moving above $2.
Below I was ball parking the tariff product and bbl/d net into BOE/d.
- The Corporation's average worldwide net production for the month of January 2011 was approximately 8,500 barrels of oil per day ("bbl/d"), which consisted of 2,700 bbl/d net royalty production and 5,800 bbl/d of tariff production (approx. equivalent to 3600 BOE/d). The Corporation's average worldwide net production for February 2011 to date was approximately 10,700 bbl/d, which consisted of 3,200 bbl/d net royalty production and 7,500 bbl/d of tariff production (approx. equivalent to 4400 BOE/d), up from an average of approximately 3,228 bbl/d (2,278 bbl/d net royalty production and 950 bbl/d tariff production) (approx. equivalent t to 2400 BOE/d), for the three months ended December 31, 2010.
- On February 8, 2011, the Corporation achieved record net production of 13,500 bbl/d which consisted of 4,890 bbl/d of net royalty production and 8,610 bbl/d of tariff production (approx. equivalent t to 6200 BOE/d).