RE:RE:RE:For those unawareBoy, that's a tough one. The half a billion bbls is Original Oil In Place (OOIP) and so we have to understand what the recovery factor would be.
TAG is using the Eagle Ford as an analog (See their presentation:https://tagoil.com/wp-content/uploads/2023/04/TAG-Corporate-Presentation-April-2023.pdf ) but looking at the Satista website it is interesting to not that the Eagle Ford had the lowest costs of finding to the peers listed in Statista's report.( https://www.statista.com/statistics/748207/breakeven-prices-for-us-oil-producers-by-oilfield/ )
From the same report the Eagle Ford has produced at over 2 million bbls/day and if they are right TAG has 100% of a field that has very similar in size and characteristics.
So what is it worth?
The best numbers I could find for the Eagle Ford were from 2019 when oil was selling for about $69/bbl where deals we transacting for $31,000/flowing bbl. (See attached: https://btuanalytics.com/shale-production/acreage-value-in-decline/ ). It was also noted in one of the reports above that the Eagle Ford was one of the most profitable with wells paying out in 7 months.
And so what's it worth?
Well, it's still exploration until they have their first succesful Hz well but if successful, maybe you can tell me what 2 million boe/d time $31,000/boe is worth ;)
All of this is just in my humble opinion, I am in no way an expert on any of it and the links provided are just from Google searches.
All the best to longs :)
Doc.
For any who follow me, I also like Ominica Mining and Metals (OMM) trading at about a dime today. ;)