- A highly qualified top management team.
- Sibley 84 #1 on Block 83 84 (West Gomez) going into production soon.
- Sibley #2 Block 83 84 Block 83 84 to go into production soon thereafter.
- Pantera Petroleum's Active Acquisition and Drilling Program Strongly Reiterate BUY Rating and $6.84 to $8.84 Target Valuation Range, According to Cohen Independent Research Group
"Citing the Block 83 84 estimated recoverable reserves of more than 27 BCF gas and 50,000 barrels of oil (worth roughly $250 million based on current oil and gas prices) and its potential to produce 6,500 MCFGPD and 80 BOPD or greater, Paul Cohen states, "Pantera Petroleum's recent acquisition of its 10% stake in one of the most productive gas plays in the world, with immediate production prospects, will accelerate the Company's transition from a development to growth stage organization with rapidly increasing revenue generation." - Cohen Independent Research Group
When you look at the size of the estimated size of the reserve 129 million barrels it is relatively small in comparison to the US daily consumption of 20 million barrels. In fact, if pumped immediately and dispersed worldwide, this reserve would last about a day and a half! The low end Tupi Field estimate of 5 billion barrels off Brazil meanwhile could support US demand alone for only 250 days. This I expect is also much more expensive to extract (ie, the Paraguay reserves will provide a higher ROI and will be exploited).
A recent price of $.28 seems like a nice buy-in point. It may be the bottom. Look for a pop on news of Sibley #1 production and stay long for $3 in under a year.
$6.4 (07/26/08)
