Nice post CAussie,
Now don't see this as criticismm but just an addition to the debate.
One of the attractions of TC to me was that it is not a shale play, it is more akin to a conventional reservoir. This would mean a slower decline in production, cheaper producer costs eg. no frakking needed and a higher potential production eg. instead of 20% maybe much higher even around 50%.
Personally I don't think 10mmcuft/day likely (no reason except too good to be true) but do think a production test of 2 or 3 mmcuft/day would be fantastic and totally change the value of the company and the value of the 25,000 acres of TC dirt.
I can't see CEL being worth less than $100m if we get good flow rates. Even at your figure of 20% which implies 325Bcf that is more than $1 BILLION worth of gas at today poor prices.
And then in November (which isn't many months away now) they have a drill booked to investigate Mecury Stetson.
Yes we wait on the flow rates, this time next week we may know more.
Saltbus
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Last
5.2¢ |
Change
0.002(4.00%) |
Mkt cap ! $72.99M |
Open | High | Low | Value | Volume |
5.3¢ | 5.3¢ | 4.9¢ | $43.40K | 842.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 165499 | 5.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.2¢ | 57485 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 165499 | 0.050 |
1 | 399271 | 0.049 |
1 | 300000 | 0.048 |
7 | 445792 | 0.046 |
6 | 723934 | 0.045 |
Price($) | Vol. | No. |
---|---|---|
0.052 | 57485 | 2 |
0.053 | 199999 | 2 |
0.054 | 100000 | 1 |
0.055 | 390000 | 3 |
0.056 | 350800 | 2 |
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