Agreed jbr055. This is looking great. Like the Sphinx, DVN...

Agreed jbr055.
This is looking great.
Like the Sphinx, DVN operator (Mkt. Cap. US$23bn). BRK has 6.25% in this one (40acres in a 640acre unit).
Check out the map – BRK’s wells are smack in the middle of the “sweet spot”.
Look at the initial production results from surrounding wells and from the “density pilots”.
They are at 500 acres on the way to 1,280 acres.
According to NYSE:CLR (Mkt. Cap. US$17bn) a single long lateral well (parent well) will deliver 1,700,000 barrels of oil equivalent.  Based on the Ludwig Unit density pilot (see map on BRK ASX release) we can multiply this by eight i.e. so 13,600,000 barrels of oil equivalent in proved reserves from 1,280 acres (much more if DVN’s estimates of 15 – 30 wells in a single unit proved to be correct).
Rule of thumb US$10 per barrel of oil equivalent in the ground – so 1,280 acres = 13,600,000 barrels of oil equivalent x US$10 = US$136,000,000.
So as we stand today (500 acres) should be worth around US$43,000,000 (A$57,000,000).  Current Mkt. Cap. A$11,000,000.

Check out map below from Bank of America Merrill Lynch #BRK_in_the_sweetspot