RE:RE:Takeover ValueI think you should ignore any poster who has dumb attached to his moniker.
We have one here who seems to be intrinsically so.
Axl,s drilling program well be costed in the next three quarters.
Axl had $12.5 million in cash as of March 31.
With stronger production in each of the next 3 quarters,cash flows should increase to $7+ million per quarter or about $21 million for the remainder of 2014.
That's in excess of $33 million to drill the remaining wells for 2014.
That's quite adequate for the regular program.
The special Cardium horizontal well which will be twice as long as the normal horizontal May cost about $3.5 million but the production and reserve upside will be substantially greater than incremental costs.
- One hundred fifteen gross (73.3 net) light oil horizontal drilling locations have been identified in the Cardium and Mannville zones. Only 31 per cent of the net locations are recognized as P&P locations in the interim reserves report. Approximately 97 per cent of the net locations are company operated.