Cost less than drilling a few wells .... good deal or not ?
According to Rig Scout, we spud our first Beverhill joint well with Arcan on Sept 22.
This well was likely on production or close to producing before we bought the shares.
50% of the first of 40 - 50 or so future decent producers.
Buying the shares may have been an afterthought, a result of what they were seeing.
In the PBN august presentation they told us the this area EUR was 290,000 boe.
Considering the Cardium is EUR of 240,000 boe and our Bakken is 141,000 EUR boe for the 300 locations they just added. Could be they're on to something.
EUR .... expected recovery, in this case before secondary recovery ( waterflood or gas injection etc. )