Jembsb,First Two Wells To Be Drilled will be Lanagan A (222mmb...

Jembsb,

First Two Wells To Be Drilled will be Lanagan A (222mmb OIP) and Lanagan B (155mmb OIP) which are 100% New Standard Energy.

So I guess you could work on 25% of the OIP figure to arrive at some sort of speculative estimate to run some numbers on.


New Standard Energy will have the following Capital Base:

136,261,759 FPO
5,281,250 FPO (unlisted)
13,800,000 Options (unlisted)

Fully diluted Total = 155,343,009 units

Arc will hold 13,749,999 New Standard Energy Shares

Other Drill Ready Wells:

Woolnough (330mmb OIP); Prider (165mmb OIP); Spinifex A (355mmb OIP) & Lawford A (444mmb OIP).

Then there are the JV areas to consider in the equation.

Any correction to the figures above most welcome.

MI