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Longford Energy Inc V.LFD



TSXV:LFD - Post by User

Comment by WarrenMuppeton Nov 03, 2011 4:50pm
284 Views
Post# 19207246

RE: NEW WEBSITE

RE: NEW WEBSITE Well the new website does look nice, indeed. I must say I never had much interest in Vast and would NOT be in favour of any sort of amalgamation. The LFD's block/s look far superior to me..."The CS-K-10 well is anticipated to be drilled to a total depth of approximately 2,400 meters, confirming the shallow Jeribe discovery drilled in 1936 and reported to have tested at 4,800 barrels of oil per day. The upcoming well has been designed as a future oil producer, and upon successful testing, the Company intends to promptly build early production facilities and bring the well online.""The updated resource assessment resulted in best estimated contingent reserves of 121 million barrels of oil equivalent (“MMBOE”) and prospective reserves of 218 MMBOE for a total of 339 MMBOE. This represented a 260% increase from the best estimate perspective reserves of 138 MMBOE reported for December 31, 2009."Nothing fundamental has changed here. The share price earlier this year was .465, almost x6 less the price today. This price was still a 'pre-drill' price. What would the price be if they fully prove up the field? Look above for the OIP figures, and then look at today's market cap of only $14.5m. Obviously we need the funding. But surely this come, given the prospects in store here..
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