see and that's where everyone is getting confused....that's a headline number...you know PR spin..its 88e!
they do NOT have 1.6 bbls of oil... and even then its unrisked!!!.
Do the numbers on a low and best case...go for BEST Case scenario... They put in a big high number to bring the mean up...its garbage..its marketing 101
if they find Oil on a BEST case it will not be commercial i think...too small for their location... the big players have their own issues up north
You will need multiple wells to get that reserve status up to any certified level...who is is going to fund that?
then the biggest thing...their location....any asset that far west of the Dalton and taps will be stranded.....Conoco will totally screw them going up north.... who is going to fund the billions for any pipe?
Merlin 1 was a failure - they missed the n14 and got some oil shows...big deal that is always expected...did any oil flow to the shakers? and permeability or porosity reports?
Merlin 2 needs to a stunning result and extended flow testing to get any next level funding...they need 20m USD this winter minimum so i expect a raise
why doesn't to company give you development plans ever??
this is a $500 market cap...not a chance!
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