OTCPK:ARNBF - Post by User
Post by
mathwhizon Aug 13, 2012 10:14pm
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Post# 20213390
Q2 Financials
Q2 Financials Given that Arcan's production numbers are now available via public data I thought I would take a stab at figuring out their actual Q2 numbers. I haven't accounted for inventory as I imagine they would hold back as little in the tanks as possible (if they were sensible). They are wasting (fuel/flare/vent) over 300 BOE's/day in Gas. There is no financial value to flare/vent gas so that will not increase the revenue stream for Q2. They are currently showing around 4100 BOE's/day in production from what I have managed to add together. Unless they have significant confidential wells, Mr. Penner will have an awfully tough time coming up with 5200+ BOE's for the financials as a Q2 average.
Looking forward to seeing Q2 financials...