Updated Email from Steve...
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Below is email response from my previous question to Steve... Now we all have an understanding of how much production there is and how exact it is. Now there cannot be any dispute as to how much CIVC is currently producing from Alberta...
Have a great day one and all,
Wolf
RE: Analysis‏
| From: | Steve Millan (smillan@canadianimperial.com) |
| Sent: | February 4, 2009 12:00:23 PM |
| Cc: | 'Warren Smart' (wsmart@canadianimperial.com) |
The bottom line is that we have a 10% WI (working interest) in 16 oil wells, a 20% WI in 2 gas wells, a 25%WI in 2 gas wells, a 25% WI in 2 gas wells and working interests of between 30% and 35% in 2 further wells that have production tested gas.
The overall production from these wells is modest .
The GLJ report was on Proven and probable Reserves (P+P) net to us which was estimated at 50 Mboe. I believe that the figure 20 Boe that you quoted was probably daily net production to us from all of the wells.
Steve.
-----Original Message-----
Sent: January 29, 2009 4:07 PM
To: smillan@canadianimperial.com
Subject: RE: Analysis
Hello Steve...Sent: January 29, 2009 4:07 PM
To: smillan@canadianimperial.com
Subject: RE: Analysis
I was reading some historical information regarding the take over of Encore... I was always under the impression there was only 1 producing well of 20 BOE... in a release of last year it was stated that:
Quote:
"At September 1, 2007 an independent engineering firm, Gilbert Lausten Jung ("GLJ") had estimated P+P reserves of 50 Mboe net to the producing assets. An updated, 51-101 compliant reserves evaluation is underway by GLJ and will be complete by late June / early July. "
End Quote:
So are there more than one producing well and the 20 BOE is old information based on 2007 production and there is actually more oil being produced from more than one well ??
I look forward to hearing from you..
sincerly,
Fully invested...
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