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Ann: October Drilling Report, page-7

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g12m0

1,632 Posts.

52

06/11/14

11:37

Post #: 14244516
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Originally posted by g12m0 ↑

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!

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Correction! It is $1b of profit to Drillsearch and Beach. However, given that PEL91 is highly prospective for oil it is not far fetch to assume that another $1b of profit can be extracted from Pel91 excluding the Bauer oil field.

BPT Price at posting: $1.15 Sentiment: None Disclosure: Held

DLS Price at posting: $1.09 Sentiment: Buy Disclosure: Held

STO Price at posting: $12.64 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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