RE:Here it comes: News!I don`t know how GLJ Petrleum estimated the reserves but 3 Mio Barrel proved reserves is nothing.
More important is this:
"Based on the 2-20 well's proved plus probable reserves volumes of 1,089,300 boe"
BBI has right now 300 driling locations de-risked. Let`s say the average reserve of an upper and a middle montney well is 800.000 boe. So this means right now proved plus probable reserves are 240 million boe.
Blackbird whole land has the potential of 900 drilling sites. This would mean that there are probably 600-800 million boe proved and probable reserves on BBI`s land.
The other important aspect in the news release was the information with the "finding and development costs of $9.09/boe". I guess in realtiy it`s a bit higher but when infrastructure is in place these wells could have a break even price of $ 20.
Some comments about that?