2P: 12 MMboe (~80% oil) with ONLY 11% recovery Check out the latest company's report:
Based on internal estimates of original oil in place in the Beaverhill Lake formation, the Company estimates that its current P+P reserves bookings represent an 11% recovery factor over its core development area.
BUT:
Public data from off-setting pools in the Beaverhill Lake formation have seen recovery factors exceed 30% under secondary recovery, although there can be no assurance that similar results can be realized on Company lands.
Not to mention, that Waterflood in PEKISKO increased the production by 100% ! I quote:
The first positive production response to the pilot water flood was experienced in the third quarter of 2012, with monthly production rates on the three Pekisko oil wells within the pilot project area (16-32-063-09W5, 12-31-063-09W5 and 05-31-063-09W5) increasing on average 100% from the first half of 2012 to December 2012 .
At year end 2012 the Company had estimated P+P reserves with a net present value of $162.4 million and 125,700 net undeveloped acres of land.