Iron Brdg Res Inc. OEXFF

May is here. Two well results are expected this month.

[kukaman]

Let's hope the results will be good and the stock price will move higher again. Some news concerning the cryptocurrency mining / hosting activities would also be nice.

[Ditto99]

Agreed. Looking forward to great well results. The Crypto piece of the bussiness will not move the dial due to lack of scale. It's a great project with great returns, but a VERY small piece of IBR. Investors should not be caught up in IBR's crypto, they are and oil and gas company. It's all about well results. 

[kukaman]

Agreed, IBR is an oil and gas company, that is the reason I bought. But I have nothing against a lucky strike. If management gets something meaningful done in view of cryptocurrency mining, I have nothing against it. We will find out soon enough.

[Gladstone22]

Well results should be out near the end of May. Keeping my fingers crossed.

[Ditto99]

I don't think they'll have IP30 numbers ready for the May 15th Q1 report. Early June for IP30 well results is more likley IMO 

[kukaman]

I have recently been informed that they „look forward to being able to press release some IP30 rates  around the end of May“. 

[CageyOil]

The wells were on stream late February so they'll press release before the full March numbers are released by the govt at the end of this month.

[Ditto99]

They were flow tested in Feb, then shut in for well and facility work. March will show neglagible rates in public data, if any. Public data will be updated in a week. Don't expect anything on this update.  

[CageyOil]

Ah got it. The late feb on production date suggested it was on stream.

[SigmaKappa]

Everyone there is production. Its not yet public on petrinex or related....however under DDS for liability purpose the wells already have asset values based on 12 month running production. Any one have a general idea when the 02-23-068-03w6 was completed?

[SigmaKappa]

Assuming both wells started producing arpund same time their prod profikes are very similar as their asset values are very close to same amounts.

[BigFishy]

Then the sp should be responding positively.  Retail is the last to know. volume is non-existant so not sure what to think. 

[SigmaKappa]

Also llr rating should be updated after this weekend. So the difference between current value and new value will be value for march prod period. Will ne interesting to see.

[Ditto99]

You don't know what you're talking about. Well results will be out early june at the latest. The update on public data, DDS/Petranex will tell you nothing.  5 more weeks of waiting. Nothing changes from now until a presser is released on well reasults. 

[Ditto99]

liability, or abandonment costs have nothing to do with the wells performance. Reguardless if a well comes on at 200bbl/d or 700bbl/d, the abandonment costs are the same. Don't confuse people on the board if you don't actually know how this works. 

[SigmaKappa]

You are wrong. With the lmr its a comvination of asset less liability. The gov liability is calculsted based on area in alberta and depth. The asset is based on a standardized netback basef on rolling 12 months of production. Both well licenses alrwady have asset values as the last llr run included feb prod month. So one can take that amount and based on the standard gov netback used in the calc

[SigmaKappa]

Both wells have abput 300k of asset value under their lmr value. Industry standard netback is 236 m3 or about 37 boe. That means that for feb abput 8100 boe was recorded per well. Question is what amount is oil and how many days did it produce in feb? 28 days for 8100 is 289 boed. If produced half month then its 578 boed. Etc.

[Ditto99]

What if they flowed for 10 days, or 5 days, or 3 days?!?

[SigmaKappa]

Then do the math. My prior comment showed numbers for 28 days and 15 days. Its not rocket science. Pro-rate it according to number of days.

[Ditto99]

Point is, you can use whatever # of days you like. If you don't know you are assuming. And that assumption will be wrong. March data won't help either. Production will be negligible to zero and producing hours won't be listed, which means nothing if you're interested in actual daily rates. You need April public data, which will be out in the presser BEFORE updated in public data

[perdikaoilgas]

Why do you think IBR is a laggard? Gassy well? Expensive Montney wells? Acreage?  

[perdikaoilgas]

Insiders have not bought any shares lately although the stock is at 50 cents. Why? Shouldn't they?

[perdikaoilgas]

Josh Young bought his last shares in February...

[pittns]

I dont know, but what i think is unfortunatelly for us, when somebody already knows it either goes up or down before we know. Those wells are already on production, and i think for a bit of time now, shouldn't this go up if there were good? I am actually out becasue i am afraid of another dip....

[pittns]

Just to be clear those are just my assumptions.... does anybody knows for sure?

[Ditto99]

Insiders are blacked out. They know well results and cannot purchase shares because of this. 

[Ditto99]

All of the above minus the Acreage. They are sitting on gold, just have to prove it with two well results. They are not a real company without new wells over 400bbl/d. As an investor, why hold a high risk name like IBR unless it's part of your Spec Cash, or fun money. Retail investors are the majority holders because a fund manager can’t even buy into the name due to low liquidity, never mind

[SigmaKappa]

Must live in a hole cause spartan is gone.

[Ditto99]

okay sounds good. Let me know you're assessment. I'm looking forward to a hind cast once the actual info is out. What you're looking at won't tell you a single pertinent thing. 

[foothillsdd]

Is this board the reason SP is down.  Oil is up today again and getting close to $70 WTI.  Cannot seem to drive IBR the right way for us. 

[ditchdigger251]

I agree 100% with an early June IP30 public release.  IBR doesn't want to release numbers that aren't IP30's at a minimum because they want their public data to be immediately comparable against other operator's public data.  A more firm date will probably be given on the upcoming Q1 report but I don't think both wells were actually tied in and started up until late