Arcan Resources Ltd ARNBF

Someone sent oilman an inbox

[good40]

That's a good one oilman,  pretend to ignore good40 for a day before the insecurity sets in once again. So let's hear from the someone who sent the inbox.   Who sent oilman the distress signal ? 

Undeveloped reserves,  appraised sufficiently to be classified as 2P,  are worth less than $5/bbl.

Proved(1P) and producing would be worth $15/bbl,  the variable being the maturity of the field.

So oilman figures the next reserves report will magically give them 50 million bbls.  Currently proved and producing
is shown around 19 million bbls with undeveloped 2P numbers about 44% of the total number,  which I think
was 28 million bbls net.  Just going by memory,  feel free to correct.

The real kicker,  the measure of viability... each well costs $5 million so show production number estimates which can return the $5 million and then show the gravy.  Those estimates should be reasonably close to the $10 million per quarter in cash from operations.