RE:RE:RE:RE:RE:RE:RE:INPLAY OIL CORP (IPO:CT)1.22 0.08 (7.02%)It is a game changer type of pad for IPO....
And you get the side benefit in that OBE owns the land north of it. I know OBE is going to spud a well in Pembina for first time in years and I can alreay guess it will be here.
OBE already had a fairly outsanding well they drilled in this area in 2012 but technology is even better for completions in so much time passing.
This 3 well pad is producing like 6 wells would be expected too...like giving IPO 3 free wells this year for no cost. April was really good for IPO production wise and with no new wells being tied in for May...one would have assumed IPO production would have dropped in May. But this wells acted like a another 3 well pad was tied in...they got stronger in May which dont really see that often...espcially after they produced like 10-12k barrels of oil for month of April.
And they even have natural gas at a decent rate.
Other game changer benefit from these wells is they will help with reserves and value. IPO needs that at this moment in time with the bank review. NPV is sick strong.
I would guess IPO is working on reserve evulation or has already...don't know how much production histrory is needed but I am sure this is the plan.
Everyone in Cardium was fairly strong in May, even BNE was ok.
Cheering for a strong June.
Hendrick3 wrote: Thanks for the information on the high performing well pad. I don't think that had as much to do with the rise in stock price as Doug Bartole's video interview but who knows for sure. What I do know if the well performance will add to the upward momentum. I love the potential of this company as everything seems to be going their way.