GREY:PRBEQ - Post by User
Post by
thedonon Feb 25, 2016 7:26am
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Post# 24593029
How long until Rooster struts again?
How long until Rooster struts again?The lack of disclosure is almost as bad as the lack of even the most modest promotion in this company.<br /> The entire industry has been mauled and Rooster is no exception. Nobody saw this level for oil, as evidenced by the most recent Federal and Alberta budget price assumption adjustments. Natgas pricing is almost worse Even so, the lights are still on, and they may have a ton of info for us when it does come?<br /> The biggest news I would look for is the status of the High Island workover. That expensive offshore well was said was said to have company maker potential!<br /> <br /> This overview is taken from their Q2 update. In hindsight, the word Grave at the end covers how many investors feel about the industry and this company right now. But it's always darkest before the dawn, and Rooster is unique in its product offerings.<br /> <br /> <br /> Rooster Energy Ltd. is an integrated oil & gas company with an exploration and production (E&P) business and a leading downhole well intervention and plugging and abandonment (P&A) service business operating in the shallow waters of the Gulf of Mexico. Q2 2015 Update: Rooster’s daily production continued to benefit from its successful recompletion program over the first six months of 2015. Production volumes averaged 3,122 Boepd in Q2 2015, up 26% from year-ago levels. Despite dramatically lower commodity prices compared to last year, Rooster’s diversified business strategy provided 5% EBITDAX growth in the first half of 2015. Rooster expects to complete the High Island A494 #B- 4ST beginning in late September, and commence drilling two additional wells prior to year-end. Rooster recently recapitalized its balance sheet, increasing its credit facility to $60 million and extending the term to 2018 … this should further enable Rooster to purse its unique, vertically integrated strategy that aggregates all the skill sets needed to develop oil and gas reserves from “Cradle to Grave”.