Post by
maysteeler23 on Feb 01, 2011 8:35pm
5000 barrels/day in 1936= 20000 barrels today
No one is talking about this. And it is so important.
Comment by
good40 on Feb 01, 2011 10:04pm
No one is talking about it Maysteeler... because the oil column was determined to be too small to develop. What part of that don't you understand ?Why do you think it was left for 75 years ?Why don't you concentrate on the economics here, 40% royalty, 40% working interest, opex, capex ... thenmake us all feel comfortable with the idea of producing in Iraq.
Comment by
Baxter4 on Feb 01, 2011 10:22pm
Genel on their website state the C7 well found oil in commercial quantities. It was too small in 1936 when the other boomer fields were found and oil supply was in surplus. Today is a different story.
Comment by
maysteeler23 on Feb 02, 2011 6:27am
5000 barrels/day were discovered in 1936 at a very shallow point. After 80 years of oil recovery improvements. It's not hard to see why the talk is we may see as high as 20000/ day. Depending on how much of the potential 7 billion they can find. 20000 barrels would make LFD at least a $20 stock. And would put it in the ranks of Niko which is $100 a share
Comment by
Kurd30 on Feb 02, 2011 10:29pm
The best thing to do is to ignore that monkey maysteeler. He is an absolute joke and full of nonsense. The other monkey on this board is sumeroil.