GREY:CXEYF - Post by User
Post by
Condor7on Mar 30, 2011 1:53pm
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Post# 18362017
CAX Production
CAX ProductionI know the title of this post may cause some amusement among long term shareholders, but hear me out!
The last lift we had was on 21st December 2009, that was for 115,000 barrels.
The MD&A for 30th September 2010 details that we averaged 265 bopd Q1, 154 bopd Q2, and 160 bopd Q3.
Assuming we are still trickling away for Q4 2010 and Q1 2011 at the same rate, then we have an accumulation of approximately:
Q1. 2010 265 x 90 = 23,850
Q2. 2010 154 x 91 = 14,014
Q3. 2010 160 x 92 = 14,720
Q4. 2010 160 x 92 = 14,720 (Estimate)
Q1. 2011 160 x 90 = 14,400 (Estimate)
Total = 81,704 barrels
Not enough for a lift of course, but with oil at $115 for brent crude, and the company future secured for now, this oil will be lifted at some point this year, and will add valuable working capital to the balance sheet.
On another subject, check out Lotty May, new hair-do and a sharp photo shoot for the website.
I'd give her a job!
Good to see Blindbat is still hanging in there (albeit upside down).