Arcan Resources Ltd ARNBF

RE: RE: RE: RE: Arcan Executes Non-Core Asset Sale

[wordless]

Yes, but the assets they sold were lower netback and higher royalty which accounts for most of the lower price. 

They are currently trading at ~$75K or so from memory and at a P+P reserves of like $11 per barrel, so yes it would give a negative value to their Swann Hills production, but production trading metrics are not always everything.

Reserves will go up witht he next reserve report as that P+P figure didn't account for enhanced recovery from waterflood currently happenning. It was also based off about 1/3 of their land base if I remmber correctly.

There is also some value in the pipeline and other infrastructure they built that is not accounted for in the per flowing barrel trading metrics.