$.04 increase in earnings equates to an increase of an additional 400bopd in production or 36,000 barrels.
Gran Tierra has too much goging on, in terms of long term production testing, individual formation testing, and infrasturucture improvemetns, for Costayaco 2 and 3 for me to figure the total barrels produced in Q2. (ie Q2 revenue)
As I said, I understand the increased Q2 earnings will mostly be attributed to tax write offs for infrastucture, and the price of oil, and not significant increases in production.
Do the math on an increase of (50% net to GTE) from the 25,000 bopd and 40,000bopd over a period of say 10 years, that an additional 27 million barrels net to Gran Tierra or an additional $3.8 billion in gross revenue.
I'm speculating that the proven and probable reserves has increased from what the market has valued on the upside - 46 million barrels, to maybe 100 million barrels (an increase of 27 million net to GTE).
I'm focusing on Gran Tierra's potential for an additional $3.8 billion in gross revenue,(27 million barrels) not the $.04 / share in Q2 2008.
Currently, Gran Tierra has posted results on 3 wells in a 14 well drilling program into Costayaco, it's very, very early in the development of the Costayaco oil field, with significantly more oil to the north ( Moqueta/ Norte Costayaco).
Cheers! |
