The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Brian Kristjansen - Genuity Capital Markets - Analyst: Justseeingifyoucanquantifytheoperatingcostsavingsandtheroyaltybreakyou'regoingtobegettingfromGCAonspecifically this deal and potentially with the Northeast [BC] disposal by end of year as well. Brian Kohlhammer Sure. The properties that we swapped out of were at about a $15 off cost on that 230 BOEs a day. The Hythe property that we are picking up is at about 850. So I haven't done the weighted average but it will show a little tick down from our $10.00 that we've reported year-to-date. The Northeast BC properties also are at about $14 to about $15 per BOE. That's about 500 BOE a day if we were to sell it all, so that would have a more significant impact there. Also with the Northeast BC -- I'm sorry I don't have those exact numbers, Brian, but also with the Northeast BC, we would see a reduction in our transportation costs. We do have capacity that we are paying for to processor gas through the plants out in Northeast BC and that transportation and processing would go with those assets. As far as the royalty credits, I don't think it would be too significant. It will certainly help us, but as far as an exact number, we would have to go through all of the calculations here when we submit our filing at year-end.
Answer By: David Reid - Delphi Energy Corp. - President, CEO
Answer By: David Reid - Delphi Energy Corp. - President, CEO
Answer By: David Reid - Delphi Energy Corp. - President, CEO
Question: Brian Kristjansen - Genuity Capital Markets - Analyst: When do you expect to have the -- I mean I know bids are due on October 15, but ideally when would that be wrapped up for you if Northeast BC were to be sold?
Answer By: David Reid - Delphi Energy Corp. - President, CEO
Question: Brian Kristjansen - Genuity Capital Markets - Analyst: With -- sorry to monopolize the time here, but on the -- in terms of buying versus drilling, do you see even more opportunities still? Are there going to be more deals are announced?
Answer By: David Reid - Delphi Energy Corp. - President, CEO
Question: Brian Kristjansen - Genuity Capital Markets - Analyst: Thanks, guys.
Question: Peter Doig - GMP Securities - Analyst: Two quick questions -- what do you think your bank line is going through after all of these deals? Second, I just wanted to talk a little bit about your -- you talked more about drilling some oil next in the Doe Creek, but I just wanted to talk about your drilling plans on the Nikanassin to develop that play. Brian Kohlhammer Dave, why don't I address the bank debt first?
Answer By: David Reid - Delphi Energy Corp. - President, CEO
Question: Peter Doig - GMP Securities - Analyst: Then on the Nikanassin, I was just curious how many wells you plan to drill onto that.
Answer By: David Reid - Delphi Energy Corp. - President, CEO
Question: Peter Doig - GMP Securities - Analyst: Yes, no, perfect. I just wanted to get an idea.
Answer By: David Reid - Delphi Energy Corp. - President, CEO
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