PVE po valley energy limited
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re: Ann: PVE commits to drill Gradizza-1 well... Hi Danny, In...

  1. edd111111
    538 Posts.
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    13/05/13
    12:33
    Post #: 11756176
    re: Ann: PVE commits to drill Gradizza-1 well... Hi Danny,
    In the oil and gas game thats not to bad. Obviously we would have preferred 3D over time lapse seismic (aka 4D) Still its a good chance. It simply shows how risky the oil and gas game is for all players. even the big players move forward on a 27 % chance, however most of that is on 3D+ seismic. Better than a 1 in 4 chance of changing the reserves to P1 / P2 is good, I believe, for this company. A 73% chance of finding nothing with others helping to pay the bill is also a benefit. The subsequent review of the estimates is also encouraging given the issues faced with Castello, 1c - 3 c is 4.5 - 16 BCF. Cant wait for spud.
    PVE Price at posting: 11.0¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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