Iron Brdg Res Inc. OEXFF

Hammerhead Nov 2017 Presentation...

[ditchdigger251]

Hat tip to "JohhnyFocker" on the InvestorVillage site for posting the link to Hammerhead's Corporate Presentation:

https://www.hhres.com/sites/default/files/November2017HammerheadCorporatePresentationvFINAL.pdf

I took a quick look through it and will comment more later once I've done some numbers comparisons to IBR's own presentation.  But it's apparent that the best economics of all their current 2850 well inventory are with their Gold Creek locations in close proximity to IBR's lands.  Hammerhead's avg D&C cost for development is given as a range of $4.1MM to $4.6MM/loc'n (IBR @ $4.9MM) with two sets of flat prices for economics (Set 1: $50 WTI, C$2.50 AECO and Set 2: $70 WTI, C$2.26 AECO) with type curve low and high cases of 685MBOE's & 1360MBOE's respectively.  The NPV10 values and IRR%'s (all BTAX) were $5MM to $12MM and 70% to 370%.  Nothing else in Hammerhead's presentation came close to these values that I could see - not the deeper more expensive Karr Montney or their liquids rich Duvernay.  It appears that IBR's Elmworth Montney is in an economic sweet spot.

Thanks Anon2015 for the very nice words.  I do have what I think is a decent amount of Montney experience in pretty much all aspects and areas of the play so as a long term shareholder I feel it's appropriate to share comments, opinion and analysis that could be helpful in informing other junior investors like me.  That said - I caution everyone to do their due diligence. Check out what others say (including me) and challenge things that don't add up.  Games will be played by other interests (by what one company prez referred to as "wolves at the door") - and I saw that first hand early this year when Delek Energy, the largest shareholder in Ithaca Energy, pulled the rug out from under the other shareholders with what many considered a too cheap takeover offer.  I am very thankful to see everyone else's contributions to this Bullboard - it's a great communication tool and hopefully helps keep things honest and balanced.