GREY:TRIAF - Post by User
Post by
TheRock07on Oct 27, 2011 2:04pm
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Post# 19186922
Strong Drilling Potential in Cardium
Strong Drilling Potential in CardiumAccording to their recent presentation, TOL have over 82 ( 57 net ) sections of highly prospective Cardium land with 64 ( 34 net ) low risk development horizontal well locations in Inventory
At $85 oil, each of these wells have a NPV10 of between $2.5 and $5.2 million or an average of close to $4 million per well.
Thats a 10 % discounted NPV of about $136 million and much more than that as oil prices continue to rise.
Drilling resumes in December and a major drilling program is planned for 2012.
This places Tri-oil into position to more than double production again in 2012..