8th annual excellence in oil & gas conference, page-44

The most recent example of DeGolyer and MacNaughton's work that i recall was with Linc Energy (LNC) end of January.

www.asx.com.au/asxpdf/20130123/pdf/42ckdwt996l7ps.pdf

http://www.proactiveinvestors.com.au/companies/news/38622/linc-energy-affirms-arckaringa-basin-shale-oil-prospectivity--38622.html

"D&M on the other hand assigned gas-liquids ratios to the various depth intervals in each formation resulting in estimation of prospective resources of oil in the shallower depths and gas in the greater depths. D&M was also commissioned to provide a risked estimate of prospective resources by applying a probability of geologic success"

Interesting that they then brought in 'Barclays Bank to advise on strategic options'.

My opinion is that they will get provisional estimates from D&G based on known flow rates and use this to either get bank funding or a CR on the back of a doubling of SP back at the 8-9c range.

The difference between NWE and LNC is that LNC was a 'dart throwing' exercise. (one cosultant gave 223 BOE, the other 125 BOE). Ours is a little more targeted based on the past 9 months drilling.
Cheeky


P.S - IMO - D&G are the Phil 'The Power' Taylor of O&G dart throwing.