If You're Gonna be a Bear, Be a Grizzly Bear!This is a line that one of my friend's uses, and I though it appropriate following yesterday's announcement.
Today's market reaction is great. Lots of shares now being picked up at over $6. Let's see if we can hold at these levels until the next news announcement.
Per my earlier post about them possibly hitting 12,000 boepd in March, it will likely be 11,000 or less - because you can't produce at full bore and there will be decline. Duh on me. Regardless, it is great that they can possibly access non-owned facilities. Let's see the 30, 60 and 90 day performance of the latest Grizzly well.
There is some much anticipated news forthcoming on the new 2 mile lateral they are currently testing. Go see the IV board for very detailed due diligence and further commentary. All I can say is that if it booms as well, then we can say hello to $6.50 for good.
Congrats to all the longs and a formal congrats to raggetyjack, who put me on to RMP back when it was Orleans Energy. We have all hung in, gritting our teeth from the lows at $1.50, enduring the $4 headfake of last summer, and now we can count our blessings.
L6