Replies to post #31890 on North West Oil Group, Inc. (NWOL)

[runningAllDry]

thats what confused me too - i had C1 36,750,000 barrels for shalinsky field in my records. now its only about 11mil...

anyway...one well not pumps that much and i think they are still in an non-production phase...but I'm very happy to see things are progressing!
once shalinsky is producing we have 11mil A reserves...sure a good thing!
go nwog!

[sludgehound]

Maybe 11M bars just this part

Could be the 11M reserve mentioned in PR is just for the immediate well drilling area of the field.
A dif of M to M is awfully large even by oil standards
of dry holes and other issues.
So I'd suspect it's some communication/language thing.
At least they are trying and hitting. Helps considering
the flakey Nigera supply.

Reserves were estimated to 6500000 tons = 45million barrels - now we have 11million barrels. Explanation would be nice...

[eik]

1. "Neftegazenergo" is Saratov branch of NWOG Inc.

2. Reserves of Shalinsky field were estimated at ~36 mln brls (May, 2006 PR). I think today's news means that ~ 11 mln brls will be transfered from "probable" to "proven" reserves. But I have to check whether this interpretation is correct.

3. "Out of the well oil free-flowing has been recovered." This says a lot about this oil field. "Free flowing" is a history for Russian fields. I think ME is the only place where you can still find reserves like this. "Free flowing" means big reserves, high pressure, solid production even w/o using any additional extraction methods. And if some intensive technique is used - production could double and triple immediately.

IMO.