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TransGlobe Energy Corporation Message Board

  • lovehateheaven lovehateheaven Apr 16, 2004 7:35 PM Flag

    Canadian Ngas

    From the Thursday March 11 Press Release.
    >>Production averaged 436 Boepd in December, 2003 and is expected to average 450 to 550 Boepd during the first quarter of 2004. An additional 470 Boepd of production at Nevis, Twining and Morningside is awaiting installation of pipelines and facilities. It is anticipated that these projects could be on production during the first half of 2004.<<
    EMPHASIS ON COULD.
    You claim
    >>Canada: 5000 MCFGPD (800BOEPD) @ 5.35 * 70% NRI guess for average 04= $6,800,000 cash flow CAN. This will continue to go up until it reaches 1000-1200 BOEPD for wells already completed but awaiting hookin. And more are to be drilled.<<
    >>$13MM revenue from Canada (annualized)<<
    What a stretch that is. However, that money just may be able to pay for this:
    >>In addition to the ongoing Well tie ins, the Company plans to drill fourteen wells during 2004. All the prospects are primarily focused towards natural gas and are located in Central Alberta.<<
    There is no gloom and doom here, just hyped-up, exaggerated claims to cover the need for futher capitalization.
    >>Total post royalty cash flow
    $19,200,000.<<
    What are you smoking? I gotta get some of that!!!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • It was 17MM last year. They have added to canada as you just pointed out. And now they have the 400 or so barrels from S-1. So how could it be much less than last year. The addition of the 800 barrels from CA and S-1 are as much or more than they lost from tasour. And this is without counting the extra 500 barrels a day you said "could be produced". Let me ask you this, as I run into people like you all of the time. What motivates you to hang out around companies and people that you obviously don't like?

      Move on. Don't waste your time on us. You are on Ignore.

 
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