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Bengal Energy Ltd T.BNG

Alternate Symbol(s):  BNGLF

Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia. The Company’s producing and non-producing assets are situated in Australia’s Cooper Basin. The Company’s core Australian assets, Petroleum Lease (PL) 303 Cuisinier, Authority to Prospect (ATP) 934 Barrolka, Potential Commercial Area (PCA) 332 Tookoonooka, and four petroleum licenses (PL) are situated within an area of the Cooper Basin that is served with production infrastructure and take-away capacity for produced crude oil and natural gas. In addition, it owns 26 kilometers (km) six high pressure gas pipeline (PPL 138) connecting the Wareena field to a large raw gas network passing its prospects at ATP 934. It has a 30.375% interest in two PLs on the former ATP 752 Barta block, PL 303 and PL 1028. In addition, it has three PCAs associated with ATP 752, which are the Barta block, PCA 206 and PCA 207 and PCA 155 in the Wompi block, which contains the Nubba well.


TSX:BNG - Post by User

Bullboard Posts
Comment by efficientmyasson Feb 10, 2014 5:41pm
172 Views
Post# 22192958

RE:RE:RE:PL303 volume

RE:RE:RE:PL303 volumei think you need to re-read the press release dated December 18th, 2013:

In addition to the incremental working interest acquired in Cuisinier, the Acquisition also includes a further 8.08% 
interest in the Wompi Block (ATP 752), resulting in working interests in those two projects of 30.357% and 38.08%, 
respectively.  With the increased working interest in Cuisinier, going forward the Company will realize a greater 
proportion of production and a corresponding impact on cash flows for periods subsequent to December 18, 2013.  
As a result, Bengal estimates it will exit calendar 2013 with corporate net production volumes between 500‐550 
boe/d, weighted over 90% to ultra‐light crude oil which commands a premium to Brent pricing and contributes to 
strong  netbacks.    This  exit  production  estimate  reflects  the  increased  working  interest  gained  through  the 
Acquisition, production  contributions from  all  14 wells  currently tied‐in,  and  incorporates production declines 
inherent with new production.
Bullboard Posts