Zargon Oil & Gas Ltd ZARFF

RE:Details North Dakota asset

[rad10]

Hawkowl - this isn't kijiji. 

Do you think you are going to find a buyer on Stockhouse?  You are too funny.  You should put it on craigslist too chief.

hawkowl1 wrote: Seller will consider the sale of the assets or a corporate entity AND/OR will consider a preemptive offer as the process moves toward year end. Alternatively the Seller seeks to have all offers in by January 15, 2019.

Long Life, Low Decline. Conventional Oil Properties
Properties consist of ~8,293-gross acres (~7,905-net) both unitized and non-unitized production in Bottineau & Renville Cos., ND. Acreage is a mix of HBP/HBU & primary term leaseholds.

There are 61-producers, 17-active injectors, 1-SWD & 9-Shut-Ins & 5-TA'd wells across 5-fields (Haas & N. Haas, Truro, Mackobee Coulee & Smith).

High Operated Ownership:
-- Haas Madison Unit: ~99.4% WI & 75.1% NRI
-- North Haas: ~60.74% & 45.7% NRI (Non-Unit)
-- Truro Madison Unit: ~97.6% WI & 73.3% NRI
-- Mackobee Coulee: ~100% WI & 75.3% NRI
-- Smith: 74.7% WI & 60.7% NRI

To date, these assets have produced approximately 16 MMBO. Significant Oil in Place. Opportunity to increase oil recovery through infill drilling at each property by increasing drilling density (no downspacing regulations). Waterflood expansion/rework opportunities through further optimization and rebalancing work to augment existing flat production life.

North Dakota Williston Basin geology is directly analogous to the offsetting Southeast Saskatchewan Williston Basin geology

Last 3-Mns Average (Jul-Sept 18) gross production for the properties is 424 BOPD (312 BOPD - Net) generating a 3-Mn Average net cash flow of ~$353,342/Mn.

Economics & Reserves by Category
PDP Net Reserves: 1,377 MBO
PDP Net PV10: $15,617,400

PUD Net Reserves: 192 MBO
PUD Net PV10: $901,700

Total Proved Net Reserves: 1,569 MBO
Total Proved Net PV10: $16,519,000

Total Probable Net Reserves: 568 MBO
Total Probable Net PV10: $5,598,600