Posted: Wednesday Nov 16 7:17:25PM 2005
Re: production breakdown by type--here is one way it could get to the 55% heavy oil range: The Q3 exit and Q3 average percentages are in the Nov 15 news release in the "Production and Revenue" section. Elsewhere they say they are adding 150 boepd of light/medium at Chauvin/Ribstone for a total of about 450 boepd. We might assume heavy oil stays around 1,625 and the rest of the additions are natural gas from the NE BC properties. That would result in about 54% heavy oil. Q3 exit Q3 average Q4 exit (est.) boepd % boepd % boepd % heavy oil 1,624 61 1,529 76 1,625 54 gas & liquids 718 27 262 13 975 33 light oil 319 12 221 11 450 15 Total 2,661 2,012 3,000 The Oct 31 SEPAC presentation page 5 shows current production of 2,700 boepd with 61% heavy oil. The president stated "with the projects that are coming on, that will come down into the 40% range". The SEPAC audio presentation gives a clearer picture of the reasoning behind the Assure acquisition.
Posted: Tuesday Nov 15 9:41:30AM 2005
Wondering how they will decrease the % of heavy oil by 20%, while only increasing production to 3000 boepd by exit.