Online calculator for indicated price per flowing BOE.
Not sure if this is of some use - boepd calculator.
Re: ESR there appears to be approx. $2mil debt and just under 17mil shares.
blox.com
re: the calculator - previously posted it at #reply-14415439
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ESR 2000-10-23 (provided by NewsLink Network)
Esker Resources Ltd Announces Normal Course Issuer Bid
FOR IMMEDIATE PRESS RELEASE
Esker Resources Ltd. has filed a notice of intention, subject to
regulatory approval, to make a normal course issuer bid with the Canadian
Venture Exchange. If approved, the company will be authorized to purchase
a total of 842,700 of its common shares, representing approximately 5% of
its issued and outstanding common shares, for cancellation. The issuer bid
will commence on October 26, 2000 and end on October 25, 2001, unless the
total authorized shares are purchased before that date. The company will
purchase the shares on the open market through the Canadian Venture
Exchange by its agent Mr. Ralph Rea of RBC Dominion Securities of Calgary.
The company conducted a normal course issuer bid between May 3, 1999
and May 3, 2000, purchasing 532,500 common shares on the open market at an
average price of $0.25 each. Esker believes that the buy back of its
common shares represents good value for shareholders, as it believes that
the market price represents a significant discount to the fair value of its
shares.
Esker Resources Ltd. has calculated its net asset value to be $0.54
per share using a 10% discount factor before income taxes and a 2000 oil
price of $20.30 US/bbl. WTI and Alberta gas price of $2.79/MMSTU as at
January 1, 2000. The company's 1999 Annual Report mailed to shareholders
on May 13, 2000 outlines the net asset value calculation. Since January 1,
2000 Esker has drilled or participated in 17 wells resulting in 7 gas
wells, 7 oil wells and 3 dry holes (82% success ratio). Esker's 1999
calendar day average monthly production rate was 235 boe/d based on a
conversion of gas to oil at 10:1. Esker's current production rate is
approximately 340 boe/d (45% increase) and is expected to improve further
before year-end.
Esker Resources Ltd. trades on the CDNX (Trading Symbol "ESR") and
its telephone number is (403) 269-2367, fax number (403) 294-0287. Mr. Ian
G. Holmes (President) may be contacted for clarification of any of this
information.
This news release contains forward-looking statements that are subject to
risk factors associated with the oil and gas business. The company
believes that the expectations reflected in this release are reasonable,
but results may be affected by variables including, but not limited to,
price fluctuations, currency fluctuations, industry competition,
environmental risks, political risks and capital restrictions.
The Canadian Venture Exchange has neither approved nor disapproved of the
information contained herein. |
