I did the math on TSX-V: ODE Odyssey Petroleum, Time to get long imo
see related article http://energymarketwatch.net/ode.htm Facts used in math: 1) As of right now: Proven and probable reserves = 50,000,000 (BOE) with 7.3 Million Barrels Oil at 12,800ft - 15,000ft and 25 Million Barrels Oil at 17,000ft - 17,300ft. 2) Well production when Shell was pumping on reserve before they shut it off because they did not know at the time how to handle high saline content (ready fix is in place now) = 2,300 and 2,400 barrels of oil a day on the two wells; this is verified by production records.
The math when factoring in known production that will be achieved according to aforementioned variables and scaled back to prolong life for 20+ years on each hole would result in 600 to 1000 barrels per day so I use 600… so 50,000,000 proven and probable / 600 barrels per day = 83,333 /365 = 226 years split that into 10 wells = 22.6 years take that 10 times by 600 barrels per day = 6000 barrel per day = ~$500,000 a day gross revenue – wow. That’s just the tip of the ice berg. No question ODE is going higher. Much higher imo.