1. Most Discussed
  2. Gainers & Losers

Oil expert opinion wanted

  1. parlap

    785 posts.
    From an announcement from Citiview.
    What does 'reserves of 25 BCF' mean? Cubic Feet?
    Is 25 big?

    Thanks,

    MEDCO HAS RELEASED THE FOLLOWING PRESS STATEMENT:

    "Pidawan-1 exploration well was spudded on 1st March 2002 and
    completed 17th July 2002. The well is a gas discovery well located in
    Simenggaris JOB Block, N E Kalimantan, near Tarakan Island. Total
    depth of the well is 7504ft. Preliminary estimated reserves based on
    the Pidawan-1 well is 25 BCF. Potential market for the gas discovery
    includes the Bunyu Methanol Plant and power generation in Tarakan
    Island."

    In addition to the above Medco have advised that they are now
    conducting a feasibility study on the building of a pipeline from the
    Pidawan location to Tarakan Island in order to market the gas.

    CityView is free carried by Medco throughout the current work
    programs and has a 25% gross interest in both Blocks

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.