Someone was asking about ONR's Oil prospects.  Below is from their last news release: 

Montney Horizontal Light Oil Program

 Open Range's primary focus for 2012 is to grow Montney light oil production at its 100 percent working interest Waskahigan property, increasing its corporate oil and liquids weighting. The Company views this as a catalyst for the initial balancing of its product mix and an increase to its corporate average netback, with Montney oil production anticipated to generate netbacks of approximately $50 per boe.

 Open Range has identified an inventory of 20 horizontal locations at Waskahigan and the Company's initial plans are to drill four Montney wells at the property by year-end 2012. The Company's first Montney horizontal well was spud on January 3rd. The remaining program will commence after spring break-up.

 Company lands are immediately offset by at least 17 drilled horizontal Montney wells, substantially de-risking the play. Highlights include:

 Known area wells to date have achieved an average 30-day IP rate of approximately 300 bbls per day of high-quality, 40° API oil;

Several of these wells have been tested at rates exceeding 1,000 bbls of oil per day;

One well located less than 600 metres from Open Range lands has produced 70,000 bbls of oil over its first 15 months on production, averaging 155 bbls of oil per day over that period; and

An offsetting competitor has reported estimated netbacks of $60 per boe, operating costs below $7 per boe and recycle ratios of approximately 3 times.

These results suggest the high quality of the Company's opportunity at Waskahigan. Open Range is basing its initial program on the following current parameters:

 Per-well costs of approximately $4.8 million from spud to on-production;

A type curve including an IP30 of 300 bbls per day with expected ultimate recovery of approximately 160,000 bbls of light oil per well.

 

GLTA

 

Roland