The results of CPN's Ja3a production testing are out, and judging by the falling share price the market is not impressed.
But is the response an over-reaction? While the recoverable reserves of 1.1 billion cubic feet are well below estimates, the absolute open flow rate still suggests a hefty swag of revenue will come from it.
At European gas prices (which are what? - just under US$4.00 mcf), this 14 million cubic feet a day would represent a daily revenue of some US$55,000, or over US$1.5 million per month. It sounds even better in Aussie dollars - A$78K and A$2.1 million.
With CPN having a 60% interest in the well their share of this would appear to be a pretty juicy result - shorter well life notwithstanding.
Is this likely? Any gas gurus out there that could give a hand on this one?
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7.5¢ |
Change
-0.001(1.32%) |
Mkt cap ! $7.07M |
Open | High | Low | Value | Volume |
7.6¢ | 7.7¢ | 7.5¢ | $7.014K | 93.16K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 98958 | 7.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.7¢ | 1263 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 98958 | 0.075 |
2 | 40000 | 0.074 |
2 | 13818 | 0.073 |
2 | 67666 | 0.072 |
1 | 20000 | 0.068 |
Price($) | Vol. | No. |
---|---|---|
0.077 | 1263 | 1 |
0.080 | 43054 | 2 |
0.083 | 110000 | 1 |
0.087 | 14956 | 1 |
0.089 | 7298 | 1 |
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