CALIMA ENERGY - Positive Outlook, page-5

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Quest09

750 Posts.

96

08/10/23

13:55

Post #: 70232508
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Originally posted by Quest09: ↑

IMO newly drilled well, Pisces10, is potentially producing ~430 to 500 barrels per day.
So aiming to estimate the production rate of the recently drilled Pisces10 well.

According to recent announcement Pisces10 is producing "in-line with Pisces #6 and #7", which is considered "significantly above the typical production curve".

Another previous announcement describes the production rates of Pisces #6 and #7. P6 & 7 achieved an average of 505 barrels per day over the first 30 days production and an average of 432 barrels a day over the first 90 days of production.

Hence we can estimate that Pisces10 is currently producing around 500 barrels per day.

If correct, that would be a great result which is significantly above typical glauconitic production curves.

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Originally posted by Quest09: ↑

If my estimate is correct, and Pisces10 is producing ~500 barrels per day, then that could be an overall oil production capacity increase of ~10% to ~15% (current production is about 3600 to 4000 barrels per day). That's a significant increase in production capacity.!

The interesting thing is that CE1 have just finished drilling another two wells (Pisces11 & Pisces12).!

If those two wells have similar production rates as Pisces10, then CE1 oil production capacity could have an increase of production capacity in the range of 30% to 45% by December.

Now that really is a significant increase in production capacity.!

PS. thanks for the compliment GARP, i'll take it . Oh, and feel free to jump onboard the positive outlook train. IMO, it's going to be a fun ride .

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Estimated Value of CE1's Proved Reserves (1P) for Brooks & Thorsby Assets (note: these are my calculations only. DYOR)

IMO, Estimated Value of CE1's Proved Reserves (1P) for Brooks & Thorsby Assets = AUD$2.07 billion dollars.

I recently posted about my calculations on the estimated value of CE1's Proved Reserves (1P) within the Brooks asset. Now updating that to include 1P Reserves for the Brooks and Thorsby assets. Also adjusting the oil price used to make the calculation (now using US$85.00 per barrel of oil).

As a source for the CE1's Proved Reserves for Brooks and Thorsby assets, I found the below announcement (note: PDP in the below image shows Proved & Developed Reserves, but i am aiming to calculate the value of Proved Reserves (1P) even if not yet developed).
Audited 1P Reserves for Brooks and Thorsby = 15.6 million barrels of oil.

Calculation

CE1 Proven Reserves (1P, Brooks and Thosby) = 15.6 million barrels of oil.
Oil Price Used for Calculation = US$85.00 per barrel

Est Value of 1P Reserves = 15,600,000 barrels x US$85.00 per barrel

Est Values of 1P Reserves = US$1.326 billion (US$1,326,000,000)

Converted to AUD = AUD$2.07 billion dollars (AUD$2,077,718,682)

CE1 current Market Cap = ~AUD$55 million dollars.

CE1 Price at posting: 8.7¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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