Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Mira Resources Corp V.MRP



TSXV:MRP - Post by User

Comment by Mlachakeon May 04, 2012 3:34pm
250 Views
Post# 19873216

RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE

RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE

I do not dispute the way this numbers are presented and I understand the assumptions being made here, but we should remember that the 9mml was obtained from a skin damaged reservior, so while the payzone increased by 280%-300%. The  1P figure you guys are using should also be revised upwards. Adjusting the flowrates to account for skin damage will show increase in reserviour pressure and thus increase the 1p value, you cannot know how much skin you have until you do pressure drop analysis, which I am sure they will be doing. A word of caution here is that the 280% increase in payzone does not mean that the 'new' pay zone will have same recoverable OIP (could be more, less and it's probabaly less because it was previously not considered pay or it could even be mostly gas) so its kind of false to do this math the way its being done here. Not that I have better numbers but this presented here have lots of assumptions that are clearly out of place in reservior engineering maths guys. The only thing I can say I am confident with is that we will have a better number than the one that had previously valued Mira to a high of  $.75 and thats a good thing.

<< Previous
Bullboard Posts
Next >>