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Lonestar Res Ltd New LNREF

Energy Oil & Gas E&P
"Lonestar Resources Ltd is an energy company focusing on acquisition and development of existing onshore oil and gas fields through exploration activity. The company holds a portfolio of twelve projects located in Texas, Louisiana, and Oklahoma, USA."


OTCPK:LNREF - Post by User

Lonestar Res Ltd New > PT $1.35
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Comment by jerrybeon Aug 25, 2014 11:03am
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Post# 22874615

RE:PT $1.35

RE:PT $1.35I am long LNREF and also believe the firm has good days ahead. The updated forecast was very positive. However, the recent weakness is due to a relatively disappointing Q2. In particular, they messed up old wells (interference) by fracking new wells nearby. They had to clean them up. Production is back up but it was significantly curtailed as a result of this issue and one can imagine it was costly to clean up the damaged wells. Hopefully, this technical mishap at the operational level will not happen again. A small company like Lonestar can ill afford damaging its own wells.

Still long but looking forward to a confirmation that those problems are behind us for good. If they are, the stock will pop up once more.

GLTA!
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