International Petroleum Ord Shs T.IPCO

Alternate Symbol(s): IPCFF

Energy Oil & Gas E&P

International Petroleum Corporation is a Canada-based oil and gas exploration and production company. The Company has a portfolio of assets located in Canada, Malaysia, and France. Its oil and gas assets in Canada are located in Alberta and Saskatchewan. The Suffield area oil and gas assets and the Ferguson oil asset are conventional assets located in southern Alberta. IPC’s principal assets in northern Alberta and Saskatchewan are the Blackrod and Onion Lake projects which are heavy crude oil assets applying conventional and steam assisted development methods. Onion Lake Thermal is a conventional heavy oil property located in the Lloydminster area in Saskatchewan. The Suffield area assets are conventional oil and gas assets held over a large, contiguous land position of 800,000 net acres of shallow gas rights and 100,000 net acres of oil rights. The Bertam field is located 170 kilometers offshore to the east of Peninsular Malaysia in Block PM307.

TSX:IPCO - Post by User

International Petroleum Ord Shs > A buck a barrel

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Comment by Oldnaggeron Jun 04, 2023 4:13am

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Post# 35478968

RE:A buck a barrel

Since the prior quoted post , Ipco completed the Suffield acquisition which added 16 miliion barrels of reserves They have also sold 52800 bpd times 66 days or 3,484,800 barrels.
So total reserves should now be 1,661,515,200 barrels
Share count is now down to 130,885,746
Reserves per share = 12.69 barrels
Share price = 11.84
Cost per barrel of reserves = C $ 0.933

It should also be noted that while IPCO is reducing the share count by about 10 % per year , reserves due to production are only declining by 1,16 % per year

Oldnagger wrote: total reserves = 487,000,000 2p + 1,162,000,000 contingent = 1,649,000,000

shares = 134 ,343 ,640

reserves per share = 12.27

share price 12.37 Canadian Dollars