100% of 0.6tcf gas + 21mmbbl oil = $1.7m?

Now finally, HOG's mc is close to $9m, let's review what HOG's current energy resource are valued:

MC $9 minus:

cash:2.7m
gas Plant 2m
New licence(just paid)=2.6m

=$1.7m for 100% of 0.6tcf gas + 20mmbbl oil???

rare find a bargain like this IMV, I invest lots of energy stocks like NEN,NWE,CTR,CTP,NSE,MAP,BCC,CVN.OGY..........MC all 200-500% higher than HOG, but daily producing all less than HOG.

Some of these companies also have multi-TCF concept in nature, but they all just hold 20-50% interests, and rely on farm-out to solve funding. So HOG's 100% of 0.7TCF no doubt equals to other gas player's shared mutil-tcf play.

(Like CTR, just has 20mmbbl's concept, no gas, producing 140bbl/d, MC is $20m atm= 230% of HOG. OGY shares 120bbl/d nothing else Mc $10m, CVN= 6HOG producing the same, prospects exactly same)

With this $1.7m worth assets, let's have a look the return & potential

1, current producing Sorochynska-201 well alone:

"Proved Developed Producing is the Sorochynska-201 well, with 5.1Bcf of Reserves remaining after production of 3.3Bcf to date. Ultimate recoverable from the pool is shown as 56Bcf, with 51Bcf remaining to produce."

51bcf= USD$600m as at $11/mcf =$AUD $700m

Proven recoverable gas!

producing 2.7MMcf gas +67 bbl every day = AUD $38000 income everyday, so $1.7m= 45 days HOG's cash income!

2, 0.7TCF + 20mmbbl (mean) resource portfolio

* Sorochynska Resource current producing 500boe/d

?Mean Contingent Resources of 248 Bcf gas and 7.2million barrels condensate in the Visean Sandstones.
?Mean Prospective Resources of 168 Bcf and 3.5 million barrels condensate in the carbonate reservoir.

p50=333bcf=0.33TCF

total mean 0.43TCF +10.7 million barrels of oil

* 100% of new licence area Stoliarovska with a 20 year production licence--new 2D seismic result will be released soon:

Total unrisked prospective recoverable resource on the licence: 193BCF gas equivalent:
o Ukrainian State Geological Department estimates prospective resources of (Russian category C3) 89.7Bcf Gas and 10.4million barrels of oil in Visean sandstones
o Hawkley estimates an additional prospect identified in the Serpukhovian has the potential up to contain 42 Bcf gas

total recoverable 131 Bcf gas + 10.4million barrels of oil

mean value should be much higher than recoverable resource

All together = circa 0.6 TCF gas + 21mmbbl of oil

so far, produced 4Bcf gas +200kbbl only.