1) 508% increase in reserves but also a resource increase and given the certifiers are quite conservative we can expect at least 5 mill barrels net to BYE from this well
2) there is another oil bearing structure sitting next door! which will result in a 5 well project, so more oil again!
3) BYE management, who are super experienced are saying this ranks as one of the best wells they have ever had!
4) Biouvac resource estimate still coming which from a previous presenation was listed around 9+mill barrels of oil + a lot of gas
5) cost $7 to get the stuff out of the ground = super high margins!
BYE Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held