Sonoro Energy Ltd. V.SNV

RE:RE:Valuation Repost

[SlyFox1]

And to think these numbers were when oil was $60/bbl... now we are $120/bbl so we'd double all this just for our 25%!!!

yycblackgold wrote: Double these numbers as we are getting 49% this week.
 

yycblackgold wrote: Here it is again for those who asked.  This could be as simple as RESTARTING EXISTING WELLS!!! (I would assume SNV knows the condition of the field, the recent field trip would confirm conditions)  Remember this field was previously in production of over 860 boed!!!!!
As for reserve report, it is likely done as all it would need is an update (price and effective date, minor remaining reserves calcs) but cannot be released as Company reserves until the Company actually owns them (signed PSC)!  This will help confirm the below.

Below is based on old share count, also only 25% WI, double those numbers if we get 49%   

74.29  MM Shares 25% of previous production (860 bbl/d + 1.5 mmcf/d) = 278 boe/d

production x 50,000/flowing bbl = 13.9$MM or 19 USD cents/share
production x 100,000/flowing bbl = 38 USD cents/share  

Expected/approved development production = 4,400BOPD and 24 MMSCFD of natural gas, or approximately 8,538 BOEPD (25% = 2,135 boed)

production x 50,000/flowing bbl = 107$MM or 1.44 $USD/share
production x 100,000/flowing bbl = 2.88 $USD/share  

Oil reserves = 37.5 MM, using the 1/3 (assume $60 USD/bbl) = 750 $USD MM (25% = 187.5$USD MM  or 2.52$ USD per share)  

The above is based on the previous operator's publically disclosed audited reserve report. It does not included Budong.