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Tuesday, August 26, 2014 10:38:23 AM
Grid Petroleum Estimated 41,000,000 Barrels Oil in Place
At $100/barrel that's $4.1 Billion!
Using a P10 valuation of the Oil in Place reserve calculation and assuming a recovery rate of 10% indicating the volume of recoverable oil at an estimated 4,100,000 Barrels of Oil. Using a conservative value for oil at $100.00 USD per barrel and a cost of production at a very conservative $45.00 USD per barrel of oil providing for a valuation of the Companies Interest of the Kreyenhagen trend lease at $225,500,000.00 as determined by the companies geologists.
Grid Petroleum Corp.'s (GRPR.OB) SE Jonah Field prospect sits in the second largest natural gas producing shale zones on the continental United States.
The historic success rate for drilling in the area is 97.9%.
A conservative set of assumptions applied with a healthy risk discount using the Rimini Projected Price Per Share Estimate method yielded and estimated price per share for
Grid Petroleum (GRPR.OB) at $1.77.
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