OIL summaryI do not post a lot, but I read you guys with attention. I especially value the points being brought by Icewolf, Tarsands, Keith, JW and Bookerel.
Anyway, here is a sum of what OIL has and what we should expect.
OIL has:
15/25b-6: 2,980 Bbls/d at 10 a flow rate of 10 Bbls/d/psi
15/25b-8: 4,785 Bbls/d at 20 a flow rate of 20 Bbls/d/psi
15/25b-9y: 2,648 Bbls/d at 15 a flow rate of 15 Bbls/d/psi
15/25b-10: 3,351 Bbls/d at 21.5 a flow rate of 21.5 Bbls/d/psi
15/25b-12y: 3,139 Bbls/d at 30 a flow rate of 30 Bbls/d/psi (Best well to date from OIL).
15/25a-13y: 70% of 4,194 Bbls/d at a flow rate of ??? Bbls/d/psi
15/24b-8: 50% of ???
21/23a: 65% of ??? from Sterling
15/22-16: 40% of 6,583 Bbls/d + rest of Blackhorse from Nexen
15/18b-11: 2.5% of ??? from Nexen
21/6a: 50% of ???
SGB farm-out to ???
Other farm-in prospects for sure thanks to the Sedco712 booked till 07.
7,9% Balmoral facility.
So, by the looks of it, we COULD have approx 22,500 Bbls/d production (if we add all up) and that we are awaiting more well results (including b8 Hz well results)
I also remember that Art said we could do 13 to 17K Bbls/d with b6 alone (with artificial lifts) and that b8 has a higher production potential than b6). Talk about production potential!!!!!!!!!!!
So, the 25k BBls/d production will be very easy.
What we should expect:
1- A new RR of, let's say 40-80 MBbls P+P from (RML or Sproule).
2- After that, DTI confirmation
3- RBS credit line confirmation.
From the looks of it, we are CONSIDERABLY cheap from a SP standpoint. Lots of upside potential here.
I'm in for the long run...Are you ???
Do your own DD, be patient with SP volatility and good luck to all you longs...
NixonOil