posted
Check news today. CGHI's market cap is less than $7,500,000.
Centurion and Partners Escopeta Announce Final Reports on Alaskan Leases with Higher Than Expected NPVs Wednesday November 22, 6:00 am ET
JOHANNESBURG, South Africa--(BUSINESS WIRE)--Centurion Gold Holdings, Inc. (OTCBB:CGHI - News) / Escopeta are pleased to announce the finalization of the Gaffney Cline competent person's report on two of the four prospects associated with the Alaskan leases namely North Alexander and East Kitchen. Gaffney, Cline & Associates Inc. are Technical and Management Advisors to the Petroleum Industry Internationally since 1962 and are a world renowned organization (www.gaffney-cline.com). The full report is available for review on the CGHI website in the ARRIK ENERGY placing and admission document to London AIM, under Part 3, Technical Report page 54. The report finalized the reports for the prospects North Alexander and East Kitchen and states the following, for North Alexander; in the pay zones of Beluga and Tyonek: "assuming a discovery is productive in both these formations, which GCA believes is reasonable based on the data available, GCA's mapping indicates potential for a discovery in the order of 82 Bcf (of gas)." For reporting purposes, the price of Gas used was $7.25 and the illustrative cash flow shows a post-tax NPV of US$86 million (IRR 10%). For the East Kitchen prospect "GCA estimates gross Prospective Resources for East Kitchen to lie in the range 100 to 250 MMBbls of oil and up to 1,25 Tcf of gas, with a best estimate of 150 MMBbls and 750 Bcf." With an oil price of US$50 per barrel and gas at $6.00,the illustrative cash flow shows a post-tax NPV of over US$1 billion (IRR 10%).
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
