Pennant Energy Inc PENFF

Nat Gas prices Alberta

[wintersun10]

Prompt Month (Mar) Last: $2.9500	Change :$+0.0200 (%0.68)
Deferred Month (Apr) Last: $2.9500	Change :$+0.0375 (%1.29)
Last refreshed: Feb 06 2013 12:40:02 MT (Quotes delayed up to 15 mins)

[wintersun10]

price could be higher, but last year it fell below $2 and that is unlikely to happen this year with much fewer wells getting drilled and with a winter that seems at least a little colder than last year to me, so with the current production i expect PEN to do better than all the current selling suggests, but that is just my guess, PEN will have to put some concrete numbers on the table before we

[Leewardcape]

Hi there. I just finished some "back of the envelope" calculations on what their (PEN.V) revenue should be for January, given that all three wells are producing. Looks to me like 100k/month in gas, and maybe another 230k/month in oil. Assumptions: $2.89/mcf for Gas, $94/bbl Oil, and 94 x 0.9355= 87.93 Condensate.  I assumed that 1/2 the condensate production of 510/d

[pennymaker69]

It's just not just the #'s but what the new managers are making in salary. I look forward to seeing what is up on next earning #'s.

[wintersun10]

made a prod est a long time ago: https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31389556&l=0&r=0&s=PEN&t=LIST old wells  approx 50 boe 14-29    128 boe 15-32   111 boe 13-33   100 boe (guess) Total   389 boe/day Then if you borrow numbers from CQE you get a price of $20/boe and an operating netback

[Focusakker]

If your calculation is correct, does anyone on the board have a guesstimate value on how much the company can sell its Bigstone property if it sold out to one of its partners?   Thanks, Paul

[wintersun10]

i would  think they will have to merge companies to eliminate overhead, the question is what will be the correct ratio of shares...

[Focusakker]

My think is more along these lines.  Sell the Bigstone assets if the current value is at least $12 millions.  That restores sanity to the PEN share price at $.10 to $.15.  Then take the funds and find an accessible oil field to invest in.   Thanks for the response, Paul

[wintersun10]

in a way it makes sense, but i don't like to sell nat gas assets at the bottom of the market and chase the next hot thing, better stick with nat gas and benefit as nat gas price comes back...

[Focusakker]

When does the next well get drilled?   Thanks, Paul

[Leewardcape]

But Focus, that is the $64,000 question! The powerpoint presentation on the website says "Q1 2013", but the new CEO says "2013"- without mentioning when. I think all three companies need to wait until they have enough in the bank before drilling this all-important 4th well. And I think that's where the problem lies: the mistake on the 2nd well, plus only 988 boe/day on

[wintersun10]

Prompt Month (Mar) Last: $3.0250 Change :$+0.1175 (%4.04) Deferred Month (Apr) Last: $3.0050 Change :$+0.1050 (%3.62) Last refreshed: Feb 25 2013 14:35:02 MT (Quotes delayed up to 15 mins)