HOG hawkley oil and gas limited

1 trillion cubic feet (tcf) gas mc $5m

  1. 6,348 Posts.
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    Looks like not many small SHs left? no posts for last 10 days.Have to think major SHs grabed most of shares traded under 4c.

    Very disappointed with the SP. MC is now close to cash+gas plant only. All of gas assets are valued at $0.

    well-201 still generates $10+ million revenue per year, production until 2018. Has produced 4.7 BCF gas, 3.7BCF will be produced. i.e. 58% produced, 42% left, but now worth $0.



    1, Chernetska
    Significant upside
    Moyes: unrisked recoverable P50 - 379bcf

    2, Sorochynska Resource Assessment mean: 400 BCF

    (B18 2P Ultimate Recovery downgraded from 46 BCF to 11 bcf on 17 Oct) reserve reduced from 6.3bcf to 3.7bcf.

    3, 100% of new licence area Stoliarovska with a 20 year production licence Total unrisked prospective recoverable resource on the licence: 193BCF

    Total resource: 379+400+193= circa 1 TCF gas resource, now B18 was significantly downgraded but B18 is only a small part of total resource.

    new licence area Stoliarovska alone, recoverable 193BCF gas = 30 MMbbl oil should be well worth $5m, what is MR Market thinking on earth?

    I really never see a company producing 400boe/d plus resource at least recoverable 193BCF gas = 30 MMbbl oil, is valued at $5m.

 
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