Wassana Field averages 2P Reserves of 1 million barrelsBlock G10/48 .....currently defined Wassana field...had 2P reserves of 13.6 million barrels at the time production began.
The field has been produced from 14 producer wells which computes to about 1 million barrels of currently recoverable oil per well.
At current Brent oil prices of $110 US per barrel, each well will recover over $100 million US once it is fully depleted by current production/ completion technology
The Wassana field has 2P Reserves of 4 million barrels of oil remaining which computes to about $500 million CAD in revenues net to Valeura
However, Wassana also has 7.4 million barrels of 2C contingent (unrisked) oil resources net to the Valeura's SPV.
Valeura plans to initially drill 5 producer wells within this 2C oil resources of Wassana, and May drill up to 10 more depending on new seismic resukts .
So, in summary, from the Wassana field including converting 2C to 2P, Valeura has an excellent chance of recovering over 11 million barrels of oil from the currently acquired Wassana field amounting to about $1.5 billion CAD in revenues @$100 US per Barrel.
Recall that there remains the drill defined Ros oil field contiguous to Wassana, which can be produced from the same platform .
And 5 more concessions of Kris Energy concessions in receivership that I expect may be a joint acquisition project with other partners.