There is always a bit of confusion with mcf and mmcf, and gas prices and how they are reported.
It took me a while to understand announcements of gas flows and income when I first got involved with shares.
Traders calculations are correct imo. Mick is also right that gas flows are reported in thousands of cubic feet.
Mcf is 1000 cubic feet.
Mmcf is 1000000 cubic feet.
So 1252mcf = 1.252mmcf = 1252000 cf.
The M is mistaken for 1 million but is actually from the roman numeral M which is 1000.
Also natural gas prices reported on Bloomberg are in usd/MMbtu which is a heat unit not mcf which is a volume. Individual Companies are paid on the quality of gas, the thermal units of the gas their specific well produces not volume.
Higher the quality higher the price, so we can only take the gas price what has been reported as being reliable for the BUR well.
Hope that doesn't confuse anyone anymore, but I believe that their announcement is accurate.
Wassa.
BUR Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
