8m strong oil shows in primary, page-17

1000bopd is not unachievable in the long term, but I find it hard to imagine where they would derive that from in the short to medium term.

Jingemia = 4000-5000bopd = 200-250bopd
Mirage/Ventura = 250-300bopd = 100-120bopd
Others (FB, etc) = approx 40-60boepd
Total = 340-430boepd

Assuming they get Growler and Wilpinnie to flow at 300-400bopd each (so 600-800bopd), their net gain would be 240-320bopd. That would bring their total net daily prod to 580-750bopd.

Of course, if they can get Wirraway to flow at a decent rate, that could push their daily prod over 1000bopd. However, that is quite far away in terms of timeframe. We're at least looking at 6 months away before appraisal drilling, then development drilling in about 12 months time....

While they have found gas at Margarita, no definitive flow rate has been given. So we'll need to some further testing before we can assume they will come on line.

Wintermute, I totally agree with you in that we cannot trust those numbers on the VPE presentation. Dryhole John has a awful habit of quoting P10 numbers and then quoting their potential NAV value based on high per barrel value. I hold quite a few shares and options in this company, but that's only because of their assets, not the amateurish/rampsih nature of the management. They continue to state that the market doesn't pay them sufficient respect and undervalues the company (which I agree). However, DHJ is a cowboy and the faster he learns that respect has to be earned, the better. You can't talk trash and expect people to pay you attention. It's like those bl**dy ridiculous slides in the presentation which shows people stealing gas and transporting oil by boat, etc. Who cares? And it's so irrelevant. Worst of all, I suspect it's supposed to be humourous, but surely, he must realise that it wears thin after about 2 presentations, let alone 10 or so presentations!

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