The reserves report expected sometime in the next 2.5 weeks could be a re-rating event. SEA states -
- 100+ net well locations added to 30 June 2012 reserve report - Potential reserves 150,000-250,000(1) boe per well
And this is only from the andarko basin. So using an EUR per well of 200,000 this will add ~ 20 million boe to our 3p reserves. Also expect more reserve upgrades from the DJ Wattenberg, bakken and niobarra basins.
At the EV SEA is currently trading at it looks like very good value. POO currently very strong as well.
SEA Price at posting:
75.0¢ Sentiment: LT Buy Disclosure: Held
