CIG 0.00% 6.0¢ caspian oil & gas limited

how many total barrels of oil , page-9

  1. 2,916 Posts.
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    I guess it is very much dependent on whether the Santos deep drilling is succesful or not.
    They are burning about 10 mill pa annum at the moment and seem to be very slow at getting wells into production.
    They would need 10 to 20 small wells similar to the first one to get to the point where breakeven is reached and they may be able to do this in an year to 18 months.(production 500 barrels per day at net revenue of $60/barrel)
    If they do that I would guess share price would be anywhere between 8 and 20c if the deep (Santos)drilling amounts to nothing.
    If deep drilling is successful who knows but one would like to hope for $1 or more
    Another way of looking at it is Mailisu 3 wells (about 1% of their ground )should produce 5 mill barrels (CIG share 3.5 mill barrels)If you give this an inground value of $30/barrel this would equate to 10c /share.The other 99% of the gound is bluesky as is the Santos venture

    That said please remember I am no expert and am just speculating on something I see as having little downside and plenty of upside.
    Hopefully someone with good oil expertise can cast their wisdom on this
    Please take my advise for what it is-thoughts of an amateur
 
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