Ann: Wizard Lake Well Frac Completed, page-40

Did anyone notice a maths error in the brokers article.

10% recovery of the oil in place of 60 million barrels would be 6 million barrels.

The broker puts PLX’s share as 4.8 million. This is incorrect.

In the last announcement WBE said it has increased it share in Wizards Lake Rex to 30%.

So the real numbers are

PLX. ...70%. Equals. 4.2. Million barrels

WBE ...30%. Equals. 1.8. Million barrels

What’s 1.8 million barrels worth. 20 kms from the refinery. And low cost environment.

Maybe 20/30 million dollars.

A lot of profit.

Saltbus