Ann: Drillsearch Energy announces $40 million cap, page-13

re: Ann: Drillsearch Energy announces $40 mil... Hi guys
Firstly my last
1st - i had wrong disclosure - I don't hold
However, I think this CR is by no means are negative
So they have issued another 40 m dollars . Now if one considers what they have said they will be doing with this
If it take only the conventional stuff
8 development wells in Bauer and Hanson
Lets assume 6 successes x 350 k barrels net to DLS = 2.1 million barrels increase in reserves - value 55 million dollars
4 exploration wells in Pel 91 - let's assume only one success at 1 million barrels - 600k net to DLs - value 17 million
Lets assume only one discovery in the wet gas - 500k net barrels - oil plus gas = value 5 million
So without considering pipeline benefits , wet gas development and extra revenue , extra revenue from bigger Bauer development - one can see even with average success rates - a base case assumption will add approx 2 times value of the cash raised - realistically it will be much higher if one considers benefits of faster monetization of the oil assets at a lower OPEX due to pipeline