Clearly a potential rate of up to 48mmscf/d will be more than the pre-drill reserves of 5bcf. Still awaiting imminent call on actual reserves. Until producible reserves are know, it would not be prudent for EPR to quote anything else, hence the pre-drill quote in the AR. Clearly East Wing is not Casino but given the hydrocarbon columns are each in the Warree formation, one could conclude the similarities. I suspect that EPR would use Casino and other fields in the immediate area to determine production/reserve models. FYI – Casino originally had a reserve estimate of 170bcf. After full development, 290bcf of reserves have been sold/committed. Again, East Wing is no Casino but there are more similarities between the two fields than not. Anyway, we’ll see this play-out over time...
EPR Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
