RE:RE:RE:RE:RE:Excellant Update.martindale wrote: More to come.. 455 boed isn’t as much as I was hoping for but I won’t complain.. that in itself makes for nice revenue.. price for Canadian oil is $69.50 ish US.. our profit is in the $43US range on each barrel.. that puts us in the$19,500 US or $25,000 CDN a day Profit range or bout $750,000 CDN PROFIT a month.. $9 million ish CDN a year with more coming online without more drilling as lots of wells are already drilled. By the sounds of the update we will be adding Boed rapidly so I again am hoping for 1000 boed soon, by summer maybe? Also with only 35% or the reserve having been brought up over the past 40 years and that being 10 million boed means we have about 20 million boed in ground still, even at say a 40% recovery and at present profit margin that represents about 8,000,000 barrels or $344,000,000 in profit.. I’m thinking we are way undervalued, with a liability of just over $2 million things are looking very good! Now for the dreamers add another $10-$20 Profit on each barrel as the price of oil goes up..$10 is an additional %25 ish, $20 is an additional 50% ish, higher recovery brings more $ too... can’t wait for the next update! JMO GLTA Invested!
As usual excellent conservative numbers Martin . Yes this update and what's coming is very solid as a beauty risk/reward play and as the BOE/D Numbers increase so will the sp . Ground floor is now . Don't forget these guys are always looking for other opportunities to buy other oil plays so yup maybe an acquisition or a JV on the Horizon as well while they pour in daily revs and yup spending money to bring on higher production . Perfect storm .Long Pulse.