Ernest C. Schlotter, a senior analyst with SISM Research and a four star analyst according to StarMine, has released a research update for Tamm Oil and Gas focusing on Tamm's Manning Project in Peace River, Alberta.
According to the report:
"Tamm Oil and Gas Corp acquired additional Manning acreage for Company's shares increasing OOIP to 3.15 billion barrels. 7,860 acres have been acquired increasing Tamm Oil's lease holdings to over 30,000 acres. Total heavy oil originally in place was determined by Chapman Petroleum Engineering Ltd in 2008 for 22,400 acres for the two most significant potential carbonate reservoir zones in the area, the Elkton and Lower Debolt formations, and amounted to more than 2.3 billion barrels of oil.
"The new lands acquired are contiguous to Tamm's lands already owned and have increased its holding in the world class Manning project by 26 percent. Based on Chapman's parameters we calculated the total of heavy oil in place to be 3,158,871,600.
"The Manning Project is within the carbonate trend that is known to host a significant heavy oil resource. The carbonates are the next frontier in the Alberta oil industry. Like oil sands two decades ago, carbonates represent an enormous and relatively untapped petroleum resource. The prospective heavy oil reserves at Manning, and the indications of deeper conventional oil potential justify an aggressive, continued lease acquisition, coupled with seismic studies and exploration drilling programs by the Company.
"Currently Tamm is valued at $0.019 per barrel based on our new oil originally in place (OOIP) assessment of 3.15 billion barrels. We believe today's value for Tamm shares should be $2.75 and long-term share value may reach $10.40."
The full report includes important disclosures, disclaimers and analyst information. Investrend and the SISM Research both advise investors to exercise a reasonable degree of due diligence before trading in the equities of any public company, including carefully reading entire analyst reports and report disclosures, and then only in conjunction with advice from a registered financial advisor or broker. Investrend and the SISM Research both further advise that any analyst rating, recommendation, target valuation, price target or opinion should be considered merely a portion of an investor’s total investigative process.
Most Popular Articles