RE:Subscriber Investment Summit: Vancouver My take is similar.One small difference as per my understanding is unassited they will recover about 7%,with water flood 14% and with polymer 21%.They're gonna drill alot more holes at both sites.They know what's there so just keep adding wells and upping the BOPD.Sweeeeet.Even try some horizontals at Mantario if I understood correctly.Another presenter said there is a big tax break for horizontal drilling as an incentive so that is a big plus.Not sure if that applies to RE as well but is interesting.They are actively looking for more land so growth is likely in the cards not only from the current land packages.
From Shaeffer,he said there are 3 things that are impotant to Canadian small cap oill companies.
1)payback
2)payback
3)see 1 & 2
If they don't payback the cost of the drilling a new well in about a year ,don't waste your time on it.In conservative Canadian style,a small float and low debt are also factors.
Check
Check
and Check
In talking to Al face to face I was having a bit of Deja Vu.I had a very similar chat with the DeeThree boys at a previous event.I didn't buy DeeThree(DTX) sadly(it has roughly tripled since then) because I was tied up in some other crap stocks.They both had a grin that said at least they believed,they had something great, and all they had to do was impliment the plan.Total confidence. Fortunately I have learned to heed the lessons from my past mistakes.
I think it is just a matter of repeating the proven plan with more holes and increasing the BOPD.
A bit of gravy is that Chen Lin is totally stoked on it too and has been a buyer which he announced in his letter today.He was gonna mention it before but Shaeffer beat him to it by hrs and it popped, so he held off.If you're not familiar with chen,his model portfolio was up(according to his site) 41,000% over a 10 year period.Started with $5400 in 2003 and at the end of 2012 it was $2.2m without adding any additional funds.Not too shabby.At any rate,it's yet another boost of confidence.
So those are my opinions.Take with a grain of salt.I ain't no genius :) Do your own DD but I feel totally comfortable owning this thing.Anything can happen in this crazy industry but I am not worried about downside at all.