Post by
buylower on Apr 09, 2010 11:57am
NGL - Cardium Oil
The three Cardium oil wells could be significant. I hope the results come in close to their first one.
With regards to their gas wells, Angle has a very high NGL content that gets a significant price premium. I believe they get 60% of Edmonton Light Oil prices for this. In addition, Angle is one of the lowest cost producers eg: less than $5.00 BOE so they still make money on gas at today's prices. During all of 2009, Angle did not have to shut in any wells since they still made a profit.
The LoanPine gas drills are to establish a development area to try to connect two large gas pools to the north and south. If you look at the slide n their March web site presentation, it looks promising.