Trident Exploration Corp. has retained CB Securities Inc. as its exclusive advisor for the sale of its Riviere oil property.
Opportunity Summary
- Production is currently 160 BOE/day, consisting of 90 Bbls/day of 27.5° API oil, 295 Mcf/day of sales gas, and 22 Bbls/day of natural gas liquids
- Oil price received is based on light sweet oil pricing less $9.35/Bbl
- $20/BOE operating costs and 12.6% royalties
- $845 Thousand Estimated 2018 Net Operating Income at $74.09/Bbl (US$61.67/Bbl) oil forecast
- 100% working interests in producing wells and infrastructure
- Large OOIP estimated at >25 MMBbls
- Wabamun pay up to 10 metres over more than a section
- 2.8% cumulative recovery and ~5% ultimate recovery
- Inefficient waterflood currently in place has significant optimization upside
- 10% recovery factor sweep efficiency calculation with optimized waterflood
- 6 inexpensive, relatively high impact Wabamun vertical oil development locations identified
- Incremental ~210 Bbls/day of oil, plus gas and natural gas liquids
- Incremental $6.0 million of NPV including $2.4 million of capital
- Proved reserve additions for $11,430/BOE/day and $4.90/BOE
- Probable reserve additions for $7,740/BOE/day and $4.25/BOE
- LMR of 1.81 with $5.27 million of deemed assets and $2.91 million of deemed liabilities
Additional detailed information on the property can be found on our website as well as in the Offering Circular that is available for review by contacting CB Securities at info@cbsecurities.com
Interested parties are asked to submit a Non-Binding Bid by noon on Wednesday, June 27th, 2018.