guijarral hills, page-3

What is the point of my post stuverine. I may well ask that of you about your post.

The point was just to provide anyone interested with a bit of info on Guijarral Hills prospect.

After all at this stage QPN has, as part of its arrangements with Salinas (SAE), provided for SAE to farmin to 30% and QPN has retained 20%. The other 50% is presently in Nations Petroleum's hands. They are probably hoping to reduce down their % and grant a farmin to another partner as well.

The cost to QPN for the drilling of a well to completion on the US$4 million estimated cost will be about US$800,000.
However if they strike commercial oil and if the estimated reservoir is about 5 mmbo then QPN's 20% share of that would amount to 1,000,000 barrels. Now depending on how you want to value that at in ground values.....say even at a very conservative US$10 per barrel then that becomes US$10,000,000.
Kind of worth finding the US$800,000 in the first place I would have thought.

At this stage there appear to be two possible well possibilities for Guijarral Hills prospect. More on that shortly.