OTCPK:WSRLF - Post by User
Comment by
canadafoxon Aug 08, 2013 2:28pm
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Post# 21657299
RE:as always...
RE:as always...wind; Let's vault ahead beyond the KRG initiation of paid exports in the next few months. K-3 as a minimum ( IMO ) will add 300 MM bbls, H-1 establishing Sarqala/Hasira at 300 MM bbls and Baram-1 at 300 MM bbls. Adding those to the existing 600 MM ( approx ) of Kurdamir and we have 1.5 Bn bbls. By my figures WZR per bbl is worth $3 ( $100 OP ) and that gives $4.5 Bn asset backing ignoring the 2 TCF of NG that I expect. With an MC currently of around C$ 0.7 Bn that is x6 asset backing. So, IMO the K-3 results are critical because Kurdamir and Baram will be given a strong indication of value from it. Downside? Nil mid-term IMO. Upside is x3 IMO assuming some dilution in the mid-term. Screw MS... what do they know or understand beyond what happens on a dealing screen?