OTCPK:OTTEF - Post by User
Comment by
SAMITHEBULLon Jun 10, 2003 3:53pm
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Post# 6158839
RE: NEWS re Augustine Well Testing
RE: NEWS re Augustine Well TestingRj18
I agree with your assessment.
This is the first time in over ONE YEAR, that something "REAL"
has happened with OEL.
Iam the last guy on this board to hype OEL( all you have to do is look at my prior posts), BUT if the well does produce over 520boed(438 oil + aprox 85 NG converted), this will give OEL , production of over 130boed .
This translates to over $2 million cdn revenve in year one.
130boed Times 365 days ===47 450 barrels of oil per year.
47 450 times $42.00/bo CDN$ ===$1,992,900.00 Revenue / year
$1,992,900.00 Divide by 14.1 million shrs O/S ++++.141 cents of
cash per share .
Thus i agree 100% with your post, IF THIS well turns numbers anywhere close to 500boed, OEL SHARE PRICE WILL GO MUCH HIGHER FROM HERE.
It has taken a bloody LONG TIME to say something positive about OEL.
Cheers
Samithebull