something else to think about
On one of the two Georgian licenses there are 14 prospects with 380m potential. As Range has 50% of these licenses each of these fourteen prospects will potentially be twice as pofitable as NCR.
From 19th March presentation
"14 prospects have been identified on Block VIA alone, with gross unrisked potential totaling more than 380 million barrels. Drilling depths are relatively shallow at an expected range of 2000‐ 3000 meters."
Assume that the total of the 14 prospects is 380m and apply some rudimentary calculations. 380m/14 = 27m per prospect....on one of the two blocks. Range has a 50% interest so that's 13.5m per prospect.
Compare that 13.5m figure to NCR.
Range has 25% of Smith and 20% for the rest. Look at the P1/P2/P3 figures for oil and condensates combined (put the gas aside for now) - the total is 16m oil and 16m condensate (priced roughly the same so let's say 32m). Range's cut of that is about 7m.
Putting aside the NCR gas, you could think of each Georgian prospect as being twice the size of NCR and there are FOURTEEN prospects on ONE of the TWO licenses. That's crazy!
That illustrates nicely my earlier post titled "forget about Texas". Georgia is where it's at (less risk than Puntland, bigger stake, more control, easier to get producing).
- Forums
- ASX - By Stock
- RRS
- yes we can!
yes we can!, page-16
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)