RE:RE:RE:RE:RE:TurkeySo what's +- 6TCF net to VLE worth in the ground?
1 TCF = 170 million barrels of oil equivalent .
So, 6TCF is about 1 billion barrels of oil equivalent in situ net to Valuera.
EOR probably around 15% , so about 150 million barrels of recoverable oil equivalent net to Valeura which @ $75 US per barrel = Approx $2 billion US net in recoverable to Valeura.
Highly illustrative, which is the purpose, but for the costs of a $20 million well to prove the null, the reward to risk is phenomenal.
SG has committed to drilling this well because the upside is so massively huge relative to the risk of $20 million well.
Natty gas is over $150 US per boe in Turkey.
The speculate froth of Drilling that single well with atmospheric upside could easily get us back to $9-$10 share price.
If successful, we are talking about $100 share price.
We will have oodles of cash coming in beginning in 2023 and currently running up a surplus of cash at $12 m US per month for 5 months for sitting around waiting for the Mubby deal to close.
Our main shareholder still holds millions of shares at about $5 per share.
Whats not to like ,.....if you arnt Hannamuk..