Replies to post #2406 on Claren Energy Corp (CNENF)

[Smooth]

HENC will sit at 28%, that is a certainty since it's stipulated in the farmout.

Well I once thought that to be true too, however, take a look at the TGC Corp presentation on the website. It shows the following:

TGC 25.83%
P'ville 25.66%
Henc 48.50%

Then do the math on 5 wells giving TGC 5.83% WI per well...equals 29.15% (per the Henc 9/30/2014 10Q 4.83% came from HENC and .5% each from Chelsea and Sakhai...which are now P'ville)

Soooo 5 x 4.83 = 24.15% from Henc to TGC leaves HENC at 24.35% (48.50 minus 24.15)

I gather the "no dilution" mentioned in the 2/10 PR means that P'ville does not have to give up that 1% per well.

[buccaneer1961]

look at the new presentation! look at slide 13!! the new 3-D !
http://www.terranovaenergyltd.com/i/pdf/presentations/Presentation-Feb-23-2015.pdf

charo-snatcher field it makes %66 of senex production..its 780 acres...nearby is our pel 444 3655 acres! same seismic structures as the charo-snatcher field! its great seiemec I knew it was huge because of the existing old 2-D that was avail but now have a size reference! looks like a very nice place we have its 4.65 times larger! Will be nice because our share structure is more that 10x smaller that beach/senex

Charo Snatcher is 20M bbls recoverable the area is massive some of the best in the cooper basin

and im to believe theres no oil there as mentioned it dosent exist by some...hehehe...ludicy at best