blueforce - not disputing your figures - I would be inclined to go for 9 - 1 for 360 bcf German gas which would still be fairly spectacular if it comes in.
Id reduce the odds even further to evens based solely for Eagle. I think we will get production ok, it's the flow rates Im interested in from the horizontal wells rather than the 233 bopd and .88mmcf gas from the standard vertical. They're hoping for circa 4-6 times the flow rate over the standard vertical well and down the road they want 5500 bopd plus gas from further wells. This could equate to over 2100 bopd + gas to EME. Considering that the likes of Chaco are £36m with similar share of reserve potential without production and Global Energy are circa £100m mkt cap on approx 2000 boepd and last reserves of 16.8mboe - they are looking at decent upside based on success at Eagle alone. I only bought into EME after they acquired part of the Eagle project.
Emcor Grp stock quotes
Emcor Grp stock charts
Follow this thread
