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Aurora Oil & Gas Corp. Message Board

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  • carchandco51 carchandco51 May 7, 2008 12:38 PM Flag

    166 Billion Cubic Feet Of PROVEN Reserves

    jem- I agree but its more "smoke" than paint. From the original post you notice their net wells to gross WI is about 1 to 2. They may be booking the reserves until a well is drilled on a farm out with other participants. With interest on the debt eating up about 35% of the gross revenue the only way for this to fly is a buyout. Hopefully management has some concern for the shareholders and isn't deliberately trying to run it into the ground for their own gain..? Typical value of proved reserves of NG is between 2 and 3 $ mcf, i.e. 2 to 3 million $ per billion cu. ft. hmmm... something isn't square with this deal.