re: resourcefull Hi Sushi
The price of the gas would be around $1.35 per Megajoule which is the energy content but as they are reporting in cubic feet I don't know what the conversion is. One of the other posters reckons $20 m revenue if the next one comes in as well, perhaps he could enlighten us more.
They are so close to the existing infrastructure that it could be less than 2 months for hook up.
The other three wells should be online and adding to the bottom line as well..... I believe they are to the tune of at least 5000 BOPD, Arcs share 2500 BOPD = $50m+ revenue PA, not bad when the total sales revenue for Q1 06/07 was $28.9M.
EPS was calculated by a broker at 16.7c per share for 07 before the last 2 wells came in, even allowing for a bit of production decline it should be conseravtively now be approaching 18c. With such a massive exploration program a PE of 10 could be justified = $1.80 share price. I wonder what a decent exploration strike would do on top of that?
drilling update 6.1 mmcfd, page-5
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