RE: Don't know what to believe anymore--dropzone Agreed bakken. Now that Arcan's Q3 is finally over I think the worst is behind us (touch wood).
Now we just have to wait for news on the Co's bank credit line review and any operations updates that they would like to share with us before the Q3 report comes out which we can expect around mid-November.
PS. Thanks for the PI Financial update post hardeehar. It suggests things are not as bad as they appear, and that the SP is way oversold right now.
That said, I will admit I overstated Arcan's production numbers in my last post. Without any drilling going on production will suffer. The question is how much? I recall that the last production number they released was around 5200 bbl/d avg for Q2. In August Arcan revised down their 2012 avg prod estimate to 4000-4500 bbls/d. That tells me if they achieve the high-end of that call (since I'm a glass-half-full guy), then the 2nd half of 2012 should average around 4000 bbls/d (1st half avg ~5000 bbls/d). The Q3 numbers will tell us if they are on track.
I'm still looking for a SP bounce to happen sooner than later.