Going by the elation on this thread, I thought you'd all be buying with your ears pinned back this morning. Alas, there's a lot of ramping and not much buying going on
Roughly, they need to add ~2mmbls gross 2P reserves to justify the current MC of $45mil 5.6cps
ie
Mirage/Ventura 1mmbls x NPV10brl = $10mil x 40% = $4mil Growler 1.5mmbls remaining x NPV30/brl = $30mil x 40% =$12mil Net cash ~$4mil Subtotal = $20mil or 2.5cps
Snatcher/Tigercat and Growler/upgrade gross 2mmbls x NPV30/brl = $60mil x 40% = $24mil
Grand total $44mil or 5.5cps
So gross 2mmbls reserves addition to the booked 2P reserves to justify current sp. Sounds like most of you are expecting a much higher addition to reserves, say gross 4mmbls+ ?
ITC Price at posting:
5.6¢ Sentiment: None Disclosure: Not Held