Yeah Sproule is likely conservative when doing a maiden reserves statement.
Below for comparison is an extract from the 2021 reserves update for Renergen where they ended up with a 2P reserves of about 400bcf or 0.4tcf of methane / nat gas. Not sure if KKO has a similar size of gas columns and flow rates versus RLT and they're a few hundred kilometres away I think.
Anyway KKO has done about 30 holes plus maybe there are historic wells on KKO land also Sproule might factor in.
Also not sure how much of the land the 30 holes cover across KKO's land area which I believe is extensive.
KKO Price at posting:
9.3¢ Sentiment: None Disclosure: Held
