GREY:ENGFF - Post by User
Comment by
steadfaston Jan 15, 2014 5:33pm
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Post# 22096083
RE:RE:Time for Positive Thinking
RE:RE:Time for Positive ThinkingPassportcheck, you were indeed for many years a certified cheerleader of ENG.
Few people are as knowledgable as you are regarding Eng. You did your homework well.
I have a challenge for you. If you were negotiating with an investor for Lotshi, what would
be a fair % to allocate to the investor in receiving $20M to drill Lotshi this spring?
Mean Potential (you probably know these figures off by heart)
7 oil prospects 313M barrels of oil
The P10 est of 61,988 (62M barrels) is a 10% chance of finding oil. P10 is the
probability weighted, which typically has a chance of 15-45% chance, so lets go with
62M barrels x 30% = 90M barrels of oil.
March 17, 2010 you posted there is potential for at least 100M barrels of oil to be in Lotshi,
= $7-8B value at current price and this is min.
So lets go with 100 M barrels of oil. What is the % you will allocate to investor?
You have too much talent to waste your time being a pessimist, let's get all your energy
back into positive territorty so we can all work as a Team and be supportive of our new
President and new Directors. I will eagerly await your % number.