East Wing has a lot of similarities with the AWE/STO Casino field. At flat out throttle, each of the 5 Casino wells flowed at around 45-50mmscf/d. At 26/64 restricted flow, East Wings flowed at 9mmscf/d at pressure of about 2000psi. The interval was about 12m, which is slightly shorter than the Casino tests. If EW can flow up to 48mmscf/d as suggested by EPR, the reserves could be 50bcf+++ 50 bcf should be worth about $100m net or PV of $67m (10% - 8yrs - $4/mmcf - 50% profit margin).
100bcf is worth PV of $133m
Casino has reserves of 290+bcf.
EW will be a nice little earner for EPR. Now they have better information of the potential of the P168 permit, we could see another couple of prospects being drilled. P168 is 100% EPR, which is very sweet.
Cheers,
Antman
East Wing has a lot of similarities with the AWE/STO Casino...
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