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Coelacanth Energy Inc. V.CEI

Alternate Symbol(s):  CEIEF

Coelacanth Energy Inc. is a Montney-focused oil and natural gas exploration and development company, with lands located in the Two Rivers area of northeastern British Columbia. Coelacanth owns approximately 140 (net) sections of Montney acreage in the Two Rivers and surrounding area and has identified 8.9 billion bbls of Original Oil in Place (OOIP) and 8.6 tcf of Original Gas in Place across these lands.


TSXV:CEI - Post by User

Bullboard Posts
Comment by efficientmyasson Apr 04, 2017 5:10pm
58 Views
Post# 26075874

RE:Reserve Report Out

RE:Reserve Report OutNot nearly as interesting as the operations update released after market close:

GLJ recently reviewed all of Leucrotta's Lower Montney Turbidite wells in conjunction with assigning reserves for the 2016 year-end Reserve Report previously released. While there is variation of reserves assigned across the pool, given different well test rates and gas oil ratios, the average economics are compelling.

For Lower Montney light oil wells, GLJ assigned, on average, 669 mboes (32% oil and ngls) of ultimate recovery per well. Using Leucrotta's current estimated drill and complete costs (before pad development) of $3.8 million, GLJ's average production curve, and GLJ's January 2017 Price Forecast, the average Lower Montney Turbidite light oil well will generate a rate of return of 91% and a net present value (NPV10) of $7.1 million.(5)

For Lower Montney liquids-rich gas wells, GLJ assigned, on average, 1055 mboes (21% oil and ngls) of ultimate recovery per well. Using Leucrotta's current estimated drill and complete costs (before pad development) of $3.8 million, GLJ's average production curve, and GLJ's January 2017 Price Forecast, the average Lower Montney Turbidite liquids-rich gas well will generate a rate of return of 223% and a net present value (NPV10) of $8.7 million.(5)







 

Leucrotta currently owns approximately 105 net sections of land within its mapped boundaries of the Lower Montney Turbidite play. Current data suggests there are approximately 80 net sections in the oil window and 25 net sections in the liquids-rich gas window. Based on up to 8 wells per section in the oil window and 4 wells per section in the liquids-rich window, Leucrotta has a potential drilling inventory of 640 Lower Montney Turbidite oil wells and 100 Lower Montney Turbidite liquids-rich gas wells.(6)





 

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