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Re: lamlam post# 565

Monday, 02/11/2013 7:01:35 PM

Monday, February 11, 2013 7:01:35 PM

Post# of 4993
well there's a lot of longs because if SS is confirmed to staying in tact as funding news stated with the clearing of convertible debt, folks are expecting it to reach a couple dollars this year. That's based on calculations of one of the longest of longs. That being said, projections are projections but one thing is for certain a PPS of 3 cents puts the market cap around 3M and that's just insanely low.
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The 2012 Reserve and Economic Evaluation on Vermilion Block 179, issued by James F Hubbard Petroleum Consultant (JFH) of New Orleans, LA, shows Gross Proved Reserves of 784.3 Thousand Barrels (Mbbl) of Oil and 2,215.4 Million Standard Cubic Feet (MMSCF) of Gas, and Net Proved Reserves of 407.6 Mbbl Oil and 1,151.5 MMSCF Gas with a Projected Future Net Revenue of $36.7 million and a Discounted Future Net Income of $20.3 million (PV-10). The report also shows Combined Gross Total Reserves for VM 179, both Proved and Probable, of 2,129.7 Mbbl Oil and 4,237.9 MMSCF Gas, and Net Total for all reserves of 1,106.9 Mbbl Oil and 2,202.7 MMSCF Gas with a Projected Future Net Revenue of $97.7 million and a Discounted Future Net Income of $55.1 million (PV-10). The Gross Reserves referenced above are to 100% working interest in the lease. The Net Reserves and all income data are to the net interests owned by Worthington. Appropriate deductions have been made for royalties and overriding royalties.

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