Post by
TheHammyburgler on Sep 22, 2016 4:53pm
New Well
Maybe analysts are unhappy with the last well to come online yesterday in their updateon sedar?
Comment by
TheHammyburgler on Sep 22, 2016 5:12pm
Forgot to mention any specifics It is the second of 5 wells to be drilled in the second half of 2016 and was drilled in a re-pressured area of their Bakken. Production avg was 370 bbls/d of oil and 900 mscf/d of natural gas over their nine day test. Currently flowing at a restricted rate of 350 bbls/d and 1500 mscf/d. Well cost was $1.2mil, same as the last.
Comment by
newcoin on Sep 22, 2016 5:44pm
Are these good numbers? I'm not an 'oil person' so I really don't know. Thanks.
Comment by
spacegimp on Sep 23, 2016 9:20am
these are great numbers for 1 million per well, the concern was decline rate and that has been fixed with gas injection to raise field pressure over the last 2 years ...costs going forward will drop ,production will stabalize and they can get busy drilling cheap wells with higher production - the last 2 wells are proof the re-pressurization is working
Comment by
newcoin on Sep 23, 2016 9:40am
Excellent! Then there is no apparent reason for the S/P to be down. It must just be one of those rare opportunities to buy an undervalued stock.