a bit misleading statement re: 500 BOE. Have you noticed that they use either 12:1 or 18:1 when converting from oil to GAS but in this case they used 6:1 in converting gas to oil. Using 18:1 ratio (which is approx correct re: gas and oil prices) we get 300 BOE and even with 12:1 we get 350BOE.
At oil price of $80/barrel and gas price of $5.5 per thousand CF we will get revenue of
Oil $16,000 / day
Gas $9,900 /day a total of $25,900 / Day
compare this with 500 Barrel - we should get $40,000 / Day
AZZ Price at posting:
68.0¢ Sentiment: LT Buy Disclosure: Held
