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Bullboard - Stock Discussion Forum Pennant Energy Inc PENFF

Energy Oil & Gas E&P

Bullboard (GREY:PENFF)

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Post by xammaxon Jan 27, 2012 6:45am

News

CALGARY, ALBERTA--(Marketwire - Jan. 26, 2012) - Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI.V - News) reports that the Company's second Bigstone ...more  
319
Post by pennymaker69on Jan 27, 2012 1:44am

I need to correct myself.

It looks like the costs for the tie in has been paid. It seems it's 1 million to drill and 1 million to frac. + tie in costs. This does leave Pen with some left over cash. They might need to do a ...more  
379
Comment by statesideon Jan 26, 2012 11:42pm

RE: $4.1 Million was raised end of November

Those 20 million shares will come off hold March 31st before the 3rd well test results will be available.  All in all, bad luck in what should have been a successful test based on 15 previous ...more  
212
Discussion
Comment by statesideon Jan 26, 2012 11:32pm

RE: RE: stateside

Both Pennant and Blackbird were required to pay 37.5% of the wells which at $8 million amounts to $3 million per well for Pennant (see the original agreement last year).  They also already paid ...more  
188
Discussion
Post by AlternativeViewon Jan 26, 2012 11:31pm

$4.1 Million was raised end of November

  12. Subsequent Events (a) On November 23, 2011 a cash call in the amount of $956,652 was paid by the Company for 37.5% of the cost for a multi stage horizontal well fracture stimulation ...more  
200
Comment by statesideon Jan 26, 2012 11:26pm

RE: stateside

I think you have the cash issues. they raised millions of $. They only spent just over 1 Million on the well if you look at the MD&A. They still have millions left over for the other wells. They ...more  
158
Discussion
Comment by mcv1on Jan 26, 2012 11:11pm

RE: stateside

Pennymaker, Better start making more pennies because PEN will need them to continue work I expect.  They were counting on success from this well to raise funds at higher levels but that didn' ...more  
140
Discussion
Post by pennymaker69on Jan 26, 2012 11:06pm

stateside

I think you have the cash issues. they raised millions of $. They only spent just over 1 Million on the well if you look at the MD&A. They still have millions left over for the other wells. They ...more  
220
Comment by mcv1on Jan 26, 2012 10:58pm

RE: RE: RE: Friends and Family win again .........

stateside, Yes you were on the ball.  That combined with DEI and BBI tanking convinced me that we were cooked on this well.  I agree the Ontario Securities Commisiion should find the guy who ...more  
223
Discussion
Comment by AlternativeViewon Jan 26, 2012 10:58pm

RE: RE: You have seen the pictures of the frac

 You got the timing wrong.  Never a chance of cash flow until April. Pour yourself a drink an wait to see what tomorrow brings. "Surveys have been completed and contracts are in place ...more  
234
Discussion
Comment by statesideon Jan 26, 2012 10:43pm

RE: You have seen the pictures of the frac

Anyway, sh*t happens in the oil-patch, so get used to it.    Agreee...always a risk.  It's just the luck of Pennant and it's shareholders that the first test out of 16 goes bad ...more  
156
Discussion
Comment by statesideon Jan 26, 2012 10:31pm

RE: RE: Friends and Family win again .........

I'd hate to be the guy from Canaccord who was panic selling around 3:30 PM yesterday.  I mentioned it in a post yesterday.  The guys a sitting duck for the exchange.  If he talks ...more  
193
Discussion
Comment by bullmarketson Jan 26, 2012 10:30pm

RE: RE: Friends and Family win again .........

This is not a miss, and i think this result is easily priced in the stock. The reservior is there -- i dont know why they dont clean it up and frac the other zones..
160
Discussion
Post by AlternativeViewon Jan 26, 2012 10:29pm

You have seen the pictures of the frac

Imagine the on-site staff required.  They all knew the frac did not go off as planned.  Probably half of Calgary also knew.  And if the price had jumped up, non of you would be whining ...more  
239
Comment by statesideon Jan 26, 2012 10:00pm

RE: Friends and Family win again .........

The issue now becomes Pennant will need to raise money at much more unfavorable rates than had a successful test like the other 15 had occurred.  Instead of a placement at $.40 on good news, now ...more  
178
Discussion
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