RE: RE: 2P RESERVES U are definitely a politician who is also IN DENIAL as you keep misleading !
1) Even with Reliable, you MISLEAD and you ignore the BASICS as CPG paid 100K although it was a MINOR producer of 1,000 boepd. Read carefully :
"The company is acquiring Reliable Energy for shares (0.00794 of a Crescent Point share for each Reliable share) in a deal valued at $103.9 million (CPG already owned 12.8% of Reliable so the incremental value is $99.1 million including net debt).
Reliable produces approximately 1,000 BOE/d of predominantly light oil from theBakken and Torquay formations in Manitoba and has more than 135 net sections of land (total value deal metrics of $103,900 per BOE/d and $25.34 per 2P BOE of internally evaluated reserves are accretive). Closing is forecast on or about May 1, 2012."
so it will be a WASTE OF TIME to PROVE YOU WRONG FURTHER as you clearly HAVE NO IDEA what you talk about.....As I have few more minutes, I will do it though....
U must work for CPG or PGH which also wants to acquire SCS.
2) 2P Reserves will move close to 20 MMboe once the NEW report is out in early capturing all the drilling success of H1 2012. Do your math (20$/mboe) to find how much the EV must be once the new 2P Reserves Report is out SOON......fyi, it will be almost $400M.
3) ALL the companies PROMOTE their IP-24 hours and IP-10 days although you ignore it:
SCS has IP-10 days higher than 2,000 boepd when PRY and LEG have IP-10 of 500 boepd but you ignore it too.
SCS also is very clear with the rest which is AGAIN ON TOP IP-30, IP-60, IP-90 of the LIST:
Second Wave now has a total of 35 gross (16.4 net) Beaverhill Lake light oil wells in Judy Creek with average approximate 30-day initial production ("IP"), 60-day IP and 90-day IP light oil rates per well of 500 bbl/d, 283 bbl/d and 219 bbl/d, respectively.
These IP rates are simply AMAZING and they are WAY HIGHER than the ones of ARCAN and LEGACY and PINECREST and TRIOIL etc. etc. if you have a single idea about all these oil players.
4) SCS stated it clearly. NO DRILLING in Q3 and the drilling starts again in Q4. This is why the production dropped in Q3. The curve declines are ALMOST THE SAME for all the oil players in Canada except the heavy oil ones.
CARDIUM oil producers experience the same curves but their IP rates are MUCH MUCH LOWER than BHL wells.
You definitely need some education on the basics !
5) SCS operating costs will lower significantly once the pipelines connection and the electrification is done by year end. SCS stated it clearly in Q2 report too.
6) Bank debt = 87M.
The rest 15M is debt to BAM which is the largest holder.
EOM
because U ARE A WASTE OF MY PRECIOUS TIME.