OTCPK:WSRLF - Post by User
Post by
algroveon Feb 14, 2012 12:16pm
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Post# 19531746
Page16 of new presentation
Page16 of new presentation On page 16 I counted 9 potential oil zones that they penetrated. No wonder it is taking them this long to test. Of interest, the lower 2 zones are now shown as "tested Oil". Of equal interest is they seem to have discovered a zone above the Fars zones that has not been mentioned before, the Bakhtiari zone. Mil Qasim may turn out to be quite a success. These 9 zones are now going to also be tested by the new Sarqala 2 well planned for H2, 2012. It will test these zones as well as the currently producing Jeribe zone in A1. This overall southern field is starting to be as exciting as Kurdamir.
Their cash position shown does not take into account the cash flow from selling the oil from S. Assuming 5,000 bpd and $55 per barrel local price received, this translates into about $8 million per month, minus production costs. Say a net of $6 mil a month. Not bad. No more liquidity worries.