High working interest (78% post spud of first well) and Operatorship on very material 98,182 gross contiguous acre position onshore Alaska.
Unconventional 492 MMBO estimated prospective resource* (gross mean unrisked at Project Icewine) To be drilled in October 2015
Conventional 4.0 BBO estimated remaining recoverable** on the Central North Slope Recent nearby exploration success validates world class prospectivity Multiple wells in adjacent acreage have potential to re-rate Project Icewine conventional play
Area (Acres) 98,182, Gross Wells 1,200, Well Spacing (Acres) 80, EUR* per well 1.175(mmbbl), ***Total EUR 1,410(mmbbl)***
The above info was taken from the Sept presentation, but these are the figures for :
1. 98K acres
2. Have no mention of the 'superhighways' and their significance.
3. Total EUR on full field development probably 1,410 mmbbl X 2 = 2,820 mmbbl's as a minimum.
4. They are relying on 3D to pinpoint the conventional finds, but I wonder if they intend to do a VSP for a more accurate figure. (will have to ask Dave).
My point is that peeps question if they should get in where there is slight daily movement and for the sake of a cent or two could lose out on this very huge, unique play in the middle of nowhere.
Every night I can't help but to picture Paul's words - There is nothing like this anywhere else in the world.
Sweet dreams...
88E Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
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