OTCPK:ARNBF - Post by User
Comment by
hardeeharon Mar 18, 2013 10:43am
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Post# 21145153
RE: from a friend
RE: from a friend The report doesn't sound too bad...I concur water flood is essential for Arcan's survival and I'm glad to read that DM2 is getting back to its primary peak production rate of 2000 bbl/d and with any luck will exceed it.
The report didn't mention the 15+ recompletions they have going on at Ethel. The last statement they gave I recall was that 'early results are encouraging'. Because they haven't mentioned it suggests that only modest production gains are being realized. Arcan needs to stay focused on getting Ethel's H2O flood advanced. With a limited drilling budget they have to rely more & more on water flood performance to sustain/grow production.
But If they are able to pull it off the analyst says the Share price could easily eclipse his $1.50 target.
Proving up the performance of the Waterflood is what this play is all about now and there is no doubt CPG and PBN are watching intently and I suspect will come running to the table with offers should well responses from DM2 continue to improve past the peak primary roduction rate of 2000 bbl/d.