Double that number. 16 million in an hour & 15 minutes !!
The keypoints for those who heard JH on BRR:
1) Agreement on $10mil bonus reserve premium payment per TCF of gas at 3P level. They believe there's 5000 sqkm of coal bearing sediments & they haven't come to terms with the potential of the coal!! This area has the potential of 5-10 TCF of UGIIP. Besides this there's 600 mmbbls of oil potential in the acreage. JH mentions, that this $10mil/ Tcf BRPP is indicative of future cash flow, once reserves are proved post-drilling.
For the no. savvy posters, a quick no. crunch here using a flat 50-70% recovery factor for the 10 tcf gaas reserves in place times the agreed $ value. Thats the no. of bucks that could possibly come flow in as future CF for CTP. Not bad for starters.
2) JH also mentions that EIR has 3-5 nominated candidates that could come in as potential partners.
3) Two tenders for rig hire are out. The first rig will drill O-2 & the other will drill 5 CSG wells plus conduct flow tests/ dewatering of their CBM93001 discovery frm last year.
Look fwd to a report frm Patersons in the future, now that JH is talking dollar-value & cash-flow. Will come, no doubt about that.
CTP Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
