guys, last time will post here but gas in place studies are rubbish, noticed someone rang the company to see how many $ in the bank, smart move, todays announcement is fluff purely designed to increase SP for capital raising.
someone should also call the company and get more info on GIP studies compared to factual reserves.
BHP took over 487000 NET acres from Chesapeake Energy in the Fayetteville field, these are high flow rate, high depletion rate wells and from all this they have added 2.4TCF proved reserves and 10TCF total risked resource.
these acres already are producing 415mmcfd with infrastructure in place. the TCF figures above are most assuredly not Gas in place figures!!
i am getting the impression that shareholders believe CELs 45000 acres are almost equal to 487000 net acres in the Fayetteville play.
lots of terminology to get use to in gas plays, learn them.
we can see $1.00 soon..., page-20
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