Pennant Energy Inc PENFF

I saw this on DEI's board. ... Looks like no 4th w

[pennymaker69]

Recently, production from the Donnybrook Bigstone wells have not performed up to expectation and has contributed to in an impairment of the carrying value of the Bigstone property. The Company isunsure at this time whether the production performance isa result of tighter reservoir rock on the east side of the Company’s acreage block or reflective of completion design and execution or infrastructure related.  In early February 2013, the SemCAMS Tony Creek Extension Pipeline went down unexpectedly for repairs and consequently the Bigstone wells are currently shut-in.  SemCAMS confirmed that repairs were completed on March 5, 2013  allowing for the Company’s Bigstone wells to resume production.

Prior to this, Donnybrook’s net production from the 3 wells avg'ed 96 BOE/D over a 7 day period  in February 2013.

 

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