TBE - no gas/NGL revenues - being flared.Drillrigger - I love...

TBE - no gas/NGL revenues - being flared.



Drillrigger - I love sums - please share them so we can discuss. Maybe you have been able to get those elusive PV10 numbers and cash flow reports for the properties being acquired? To have a chance at success we need to see more facts about this transaction.

BTW - you wrote "There will be a couple of inter company loans and the whole project will be accelerated..." That needs to be substantiated.


Early on I noted I held a position in DVN (NYSE). They also made a major JV acquisition in the EFS last month - up in Dewitt/Lavaca county area - probably well known as this was/is BHP's area acquired from Petrohawk.

http://www.devonenergy.com/Documents/The%20New%20Devon%20-%20112013.pdf


DVN provides the needed data to support the $6B price.

e.g. 400Mmboe of Risked Resources (mostly proved reserves but you need the read the 8K doc on EDGAR). Approx multiple per BOE is $15/Boe - bargain.

e.g. 53,000 boepd production implies $113K/boe vs NSE 400boepd for $34M at $85K/boe (there's a reason for that)

e.g. Operating margin of >$60/Boe (and only 56% oil).

e.g. Summary type curve, past performance and EURs


This is also an easy to read review broken up into 6 parts
http://marketrealist.com/2013/11/devon-agrees-acquire-geosoutherns-eagle-ford-properties/


This simple point that can be made over and over is this important information is not being put out by NSE. I wont go into the conspiracy theory discussion (because it anecdotal & hearsay) but this is real money and the EFS acquisition changes the profile of NSE.

I'd like not to be as you say "short changed" - but at the moment from the data/numbers missing from NSE wrt to EFS acquisition and the numbers from on property and immediate surrounding acreage, could be well on the way to be "short shrifted"