Local, I hope you saw the PR about reserves on Yahoo. I opened two bottles of Heineken after reading it. 12.9 MMBoe proven. BUT THEN READ THIS:
"Upside Potential and Capital Expenditures
Over and above the 12.9 MMBoe of proved reserves, the Company has identified an additional unrisked 54 MMboe of probable, possible and exploratory reserves. These projects are defined with recent fully processed 3-D seismic data and within our acreage positions. The majority of this upside potential is within our Garden Island Bay field."
IN ADDITION:
"Estimated future revenue attributable to Dune's interest in the proved reserves were based on spot prices, effective December 31, 2014. Prices for 2015 were $52.19/Bbl and $3.01/MMbtu."
***Tons of money will come out this. Now you know why only about 5 million shares have been sold in total since the BK filing.
