This report represents a conservative estimate based solely on reserves which are being targeted with 26 wells representing less than 25% of all wells currently envisaged for the Shaikan development. The CPR does not take into account undrilled and untested horizons and we see a clear route for unlocking the upside to these 2P and 2C numbers through drilling more wells and thus obtaining a better understanding of the oil water contact levels and the actual fracture porosity. Meanwhile, conversion from 2C to 2P will be driven by approval of the next phase of the Shaikan development."
Without expense of moving the company forward to 66 k bopd. If we secure payments for what we produce does 40k barrels cover our debts and expenses? Are we making money theoretically ? If the company never grows from this point forward what would be a rough estimate market cap ? Sorry if this has been asked I know very little and this seems like the best place to ask questions.
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