GREY:BOPFF - Post by User
Post by
spastic121on Feb 27, 2013 11:28am
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Post# 21048628
Price not Technical
Price not Technical My feeling is that the depressed price for BOR has nothing to do with technical factors. Rather it is a factor of extremely poor results from the 10-15 well where the watercut is almost 100%. This result along with the two less than stellar wells from last fall bring into doubt the viability of all of BOR's First Nations land. What we are seeing is a race to the exit by the big players.
Management is waiting until the last second to comment in the hope that the watercut drops (as it does in some slave point wells). Although this may yet occur the high porosity in the mid range of the well may actually have been a bad sign as this may be where the high watercut originates.
I am also concerned about the lack of movement by management to spud another well or to license another location based on the seismic data they purchased.
Management needs to come clean with investors and either continue with the plans set out in the last news release or with a revised strategy to gain some value.
Hopefully the lack of volume today signals some sort of news, positive or negative.