GREY:ARWJF - Post by User
Post by
yellowbobon Mar 23, 2012 10:58am
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Post# 19709641
I wouldn't be concerned
I wouldn't be concerned On March 12, The Man replied to my concerns for my investment due to the update delay. I posted this b4, but what's not to like?
We are continuing to build upon our land position and production. I expect
to have a production update out in a couple of weeks. One of our new wells
we drilled was producing ridiculous amounts of oil as a result of the choke
breaking off because of the cold weather. We got it fixed and choked it
right back in order to prevent the well from coning with water and
ultimately destroying the well. We are waiting for the well to stabilize.
You will be happy to know that we are now primarily 100% oil which
translates into serious cash flow at $106 oil. Our seismic will be
processed by mid to late April which will give us a bunch more oil targets
and provide huge value for anyone who looks to acquire us. (Company's pay up
for a large inventory of drill prospects.) I would not be concerned at all
with the production update. We are in the first 3 months of 2012 will our
primary drilling season ahead of us. We have a goal of 1200 boe/d to exit
2012 which I am confident we will achieve or surpass. We are fully financed
through 2012 so you will not suffer any further dilution.
Please feel free to call me if you have any specific questions.
Regards,
Chris