GREY:LSTMF - Post by User
Comment by
ltrabson May 27, 2011 5:18pm
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Post# 18637276
RE: Very nice presentation.
RE: Very nice presentation.
May 2011 presentation now available.
A few points that I particularly like.
Plate 5 clearly shows at 1 year that our Bakken wells are producing approx. 70 Bbl/d and over 55 Bbl/d. (thats not including Gas).
- Compared to CPG plate 25 1 year at 60 Bbl/d, second year at 35 Bbl/d .....
Based on $90 WTI oil. CPG is 55% hedged well below $90.
If we assume CPG is good, PBM is equally good. IMO
Plate 16 & 32 show 2010 surplus cash flow ... Net of most costs including capital (drilling) .
2010 Bakken ........................................... $130m
2010 Sask. Conventional ...................... $ 55m
That's $185m surplus cash in 201o to buy land and pay part to drill in the Cardium.
Plate 16 & 32 show projected 2011 surplus cash flow
2011 Bakken ........................................... $190m
2011 Sask. Conventional ...................... $ 50m
That's $240m 2011 surplus cash
In a couple of years Cardium will be spinning of cash as well ... for another 25 years.
Looking good going forward.