Longford Energy Inc V.LFD

Compare with WZR resources

[EOIM]

Here is a summary of latest WZR resource estimate

https://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn%5Fnewsreleases%2Easp%3Fsymbol%3DV%2EWZR%26newsid%3D8018718

In comparison, I think latest news release reflects the high oil potential in the block. Investors are looking for oil and LFD seems to have more oil than gas in the field. So this is good. The upgrade of the resources to contingent category is also great as it would be moved to reserve once we start producing. Hopefully, June is firmed date for drilling and I agree with Tax that the warrants will be exercised before then so that we have the cash to execute our drilling plans. We now have a better resource base that would support share price!

If the Production sharing Contract by approved by Iraqi contract, the earning potential of this block to equivalent to a block with more than 10 billion barrels in Basra or South Iraq where service contract is in place because they receive $1.80 fixed fee per barrel of oil produced.

[good40]

Note for EOIM... Contingent resource is considered non-commercial.  Prospective resource hasn't been discovered.There is no reason to even release those numbers,  except to create interest from those who aren't aware.  Anyone who knows what these are... couldn't care less.

[Baxter4]

Note for EOIM... Contingent resource is considered non-commercial. WRONG, purposly trying to mislead again. Contigent resources are reserves which cannot be produces at this time. The reason they cannot be produced is there currently is no infrastructure in place to be able to produce the reserves. In other words, as soon as a well with casing newer than 75 years old, a GOSP and a pipeline

[abirdofprey]

As usual goofy is trying to put a negative spin on the release. Contingent resources are "not currently economic" which is quite natural since the requisite drilling program has not commenced to confirm any future potential flow rates.This is a far cry from the "non-commercial" conclusion which goofy is trying to convey. There is a natural progression