FFM firefly metals ltd

marathon may have increased the value of...., page-44

  1. 1,655 Posts.
    AKK has just issued a geologist's report on their prospect in Burleson County, way up in the north east of the oil window.

    This is not a plug.

    It contains a lot of interesting information on the trend and shows how the NPV calculations are constructed.

    Our wells seem to be far superior in terms of payback period. I have yet to study the NPV calculations in detail, but all of the scenarios appear to break even in year 2.

    Our wells appear to be breaking even in 6 - 9 months. The AUT quarterly to 30 June will have more data.

    Further - they give a table of EURs split between Austin Chalk, EFS and Buda. I don't think that we've counted either the chalk or the Buda.

    There's a lot of reading to do.

    http://www.asx.com.au/asxpdf/20110707/pdf/41zn8hyzgcr96y.pdf

    In terms of location:

    We are in Karnes: then, moving along the trend - Gonzales, Fayette, Lee/Washington, Burleson. So, they are a long way from our sweet spot.

    Yet another endorsement of the value of our acreage.
 
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80.0¢
Change
-0.060(6.98%)
Mkt cap ! $455.9M
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83.0¢ 85.5¢ 80.0¢ $2.846M 3.479M

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Price($) Vol. No.
80.5¢ 55073 16
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