GREY:MKRYF - Post by User
Post by
purseon Dec 06, 2012 12:02pm
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Post# 20693076
some fast numbers
some fast numbers I'm going to round numbers off to make things simple. If we end the year at 3800 boe/d and an 25% decline in 2013, we'll say we would be down to 3000 boe/d at end of 2013 with no drilling. So to get to 5000 boe/d at end of 2013 , we need to drill 2000 boe/d.
Based on the anticipated 2012 exit cash flow rate with its corresponding assumptions continuing in 2013, a corporate decline rate of 25 per cent, similar well economics as disclosed in Manitok's Nov. 26, 2012, corporate presentation (which can be found on Manitok's website) and its existing $30.0-million credit facility with ATB Financial, Manitok anticipates being able to finance a capital expenditure program of about $65.0-million to $70.0-million in 2013 from cash flow and its credit facility. The drilling program is anticipated to include approximately 10 to 11 (7.7 to 8.5 net) oil wells at Stolberg, two (one net) oil wells at Brown Creek and three (2.3 net) oil wells in other areas in the Foothills.
So 10 wells at Stolberg at 200 boe/d each would cover this. Now we know that we have been doing better than this on these wells.