RE : Interesting3 Feb 2019 09:32
Wow ......
According to the Australian Petroleum Statistics issued by the Department of the Environment and Energy, there were 98MMbbl of crude oil and condensate produced in 2017-2018. The figure is made up of 8,145ML of Crude Oil and 7,512ML of Condensate. In comparison, Doreimus is claiming at P50 that there will be 707MMbbl of condensate from EP487. If that were to be true, I would say we are dealing with something worth taking some notice. Even if they were 10% correct, that would be 70 MMbbl which is almost equivalent to the total crude oil and condensate produced in 2017-2018 from Australia.
And .......
What is a bit on the unbelievable thought is the size of this field? The size of what Doriemus is talking about is BIG. I have worked in the mineral resource sector since 1992 and have never worked a day in the oil and gas industry. Taking that into consideration, I am just a bit perplexed with the numbers. Letβs take the scenario that those figures were correct and Doriemus and Rey Resources are happily producing those numbers, what kind of money are we talking about? What would their share prices be? Imagine if that just came from the Butler prospect and the Basin Centres Gas System within EP487.
707 MMbbl of condensate
28 TCF of recoverable gas.
Whatever the final figure is, what I can say is that the shareholders of all companies involved will be happy.
Good find dsfat
Life in the old dog yet ?