================================================= could be 25/11 (next Thursday)
www.peakoil-gas.com
Peak Oil & Gas Limited (Peak) (ASX: PKO) is an upstream oil and gas company with an attractive combination of near term production and exploration assets located in the Asia Pacific region. Central to this portfolio is the Cadlao Redevelopment Project in the Philippines which is targeted to commence production during Q4 2011.
It is anticipated that initial production from Cadlao Redevelopment Project will be >8,000 bopd (on average over the first three months of production, net to Peak). Based on certified 2P reserves of 2.9 mmbbls (net to Peak on working interest basis), Peak anticipates cash flow of up to US$50m for first six months of production, net of all costs for that period. It has also farmed in into SC6B Bonita, a permit adjacent to Cadlao. Production cash flow from Cadlao is intended to fund number of exploration and appraisal prospects, including substantial near field opportunities
PKO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
