Bonterra Energy Corp T.BNE

Laglace Montney Well Licenses

[kavern23]

What do you guys make of BNE making a well license in Montney formation out in Northern Alberta?
Not a spud but it does state an intention.

[Hendrick3]

Hot area. They probably will spend some money in hopes of proving up some reserves and a future play. Suggests a switch in thinking from survival mode to life beyond 5 years which is a healthy change. That said, plans do not equal success. If there specific lands are good, wonderful but if they are not that is wasted capital which these days is punished mightily. They could sure use a break. 

[TheRexmember]

I haven't talked to management in at least 6 months. I will call and ask.  makes me wonder if there is a small property they are looking at? I know they want to make a few smaller acquisitions. Maybe Spartan has a smaller chunk that was not sold to CPG? They did buy a lot of their cardium acreage from them 8 years ago.  Seems out of character to be changing formations unless

[kavern23]

Well it is possible they couldnt drill in Laglace before because isn't gas plant capacity but alot of midstream companies have opened up NG plants recently in Northern Alberta.

[churchofnutsacc]

Well their presentation has only 25% of free funds flow going back to shareholders, so it's pretty obvious where the remaining will be going. I guess 20 years of reserves isn't enough. I hope any acqusitions or new area plays will result in more liquids, we already have enough (too much) gas.

[Flush11]

they added a dozen wells to the drill program this year along with a gas plant. most of the wells to be spud in Q4 so that is where most of the free cash flow went. They could drop the well numbers at any time and find another 40 million for share holders but I think they want to open up a few new areas so they can expand their well inventory and reserve numbers. Kavern has mentioned the