Clark this is my final reply to you. You have proven you are ignorant and have an inability to read and interpret.
RISC and Moyes are reputable, independent experts in the energy industry. Who are you to claim that they are incorrect? It is already clear that people shouldn't even bother reading what you spout here.
"RISC assigns 2P reserves for the Sorochynska #201 project at 13.2Bcf and 0.35MMbbl condensate, based on the material balance work described above. 3P reserves have not been determined as the sparse data set is not suitable for limiting a production forecast for a high-side case. With additional pressure and production data from a successful #201 well an appropriate 3P value could be determined."
We have a successful well and 10-11 months of production data, right? Independents provided us with 2P reserves estimate of 51 Bcf, right?
Now for the Ukrainian state balance of the B-18b prior to Well #201. As at 2009 Ukrainian state balance was 31.4 Bcf C1 reserves in the B-18b, C2 reserves were 31.6 Bcf and C3 was 74.7 Bcf.
A,B,C1 and C2 are reserve estimates with various methodologies for calculating. C3 is for prospective resources.
Anyone with half a brain expected HOGs gas reserves to fall in line with the expectations of the Ukrainian state balance, which was how I predicted HOGs reserves in the B-18b to sit between 30 and 50 Bcf (at a minimum case).
Clarks attempts at down ramping are border line pathetic, given he interprets everything incorrectly. I will no longer reply to his nonsense.
Like I stated before, I will now let the blind lead the blind.
This post is not "just for clark", its for anyone that reads his dribble.
HOG Price at posting:
16.5¢ Sentiment: None Disclosure: Held
