Good to see two drilling rigs are now at Bauer drilling Bauer-15 and Bauer-16. With Bauer-16, Bauer-17, Bauer-18 and Bauer-19 next. Clearly, the strategy as Spec mentioned is to increase recovery rates. I think the recovery rate assumption right now is 60%. But with more wells drilled I would think 75% is possible. I think there is a fair chance that Bauer Oil-in-place is between 20 to 30 million BoE. At the top of my estimate of 30mboe and a recovery rate of 75% would see Bauer bringing another $1b of profits to drillsearch!
BPT Price at posting:
$1.13 Sentiment: None Disclosure: Held
DLS Price at posting:
$1.08 Sentiment: Buy Disclosure: Held
STO Price at posting:
$12.65 Sentiment: Buy Disclosure: Held
