For Gold Creek doubters: boomer well 1130 boepd & 4.5 mln 2PGold creek already is worth more than they paid for it. So while the liquidity problem is unfortunate and badly managed the current & potential asset value is astounding.
From the official First Energy/GMP key attributes of the company overview:
· Gold Creek – Highly prospective Montney acreage with significant recent horizontal well test results.
· Large Montney land position directly offsetting competitor Montney developments with one horizontal Middle
Montney exploration well drilled and tested; final 4 day test rate of 5.0 MMcf/d of gas and 300 bbl/d of oil (40o API).
· 78 (77.5 net) sections of prospective Montney land accumulated through Crown land sales and recent acquisition.
· Offset Montney development IP30 rates exceeding 800 BOE/d, in line with RMP’s Middle Montney well test results.
· Total Proved reserves of 1.4 MMBOE (36% liquids) and P+P reserves of 4.5 MMBOE (36% liquids).
· Up to 100 potential Middle Montney development horizontal locations identified including 2 PUD and 4 Probable.
· 3 exploration Middle Montney horizontal wells planned for 2017 to continue the majority of the lands beyond 2020.
R.