VIL 0.00% 1.6¢ verus investments limited

targeting 1500 bopd

  1. 3,891 Posts.
    That would mean at $70 a barrel and a 50% cut around $52000 per day or $19m a year. with the current mc of 15m the sp could quiet easily be worth 5 0r 6 times the current one, or 12-15c.

    "The Fausse Point Field was discovered in 1926 and is a
    piercement salt dome producing from the Miocene and
    Oligocene age sands. The Fausse Point salt dome surrounding
    fields have produced to date over 44 millions barrels of oil, 2
    million barrels of condensate and 141 billion cubic ft of gas.
    The prospect area has almost 280 acres under lease with both
    oil and gas targets at less than 9,000 feet. The targets are in
    a trap that is a pinch out of reservoirs onto the flank of the
    salt dome which is typically an effective trap-seal combination. Target reservoirs are Lower Miocene
    sandstones with good porosity and permeability, with the total thickness experienced in nearby wells of up to
    150 ft in shallower oil interval and up to 120 ft in slightly deeper gas interval.
    Good potential oil rates of 300 to 500 barrels of oil per day per sand is typical. With multiple sands per well,
    the possible production rates could be up to 1,500 barrels of oil per day. The exploration well and subsequent
    development wells would be relatively inexpensive (less than 9,000 ft)."
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