RMP I appreciate the dicussion on this board, and there are some good points here.
The management did fail to properly manage this equity, the share value of the company and should never of gotten in an offside position with the bank, it was only because they did not know or understand how to take advantage of their finicial tools. These guys should be slapped in the head a few times, and they cost a lot of their loyal investors a lot of money and put the company in a poor position.
The water flood should of been in place years eariler as part of good production practice that should of flattened out the declines and let them exploit the seconday recovery potential. In fact i heard from a friend they may have destroyed the play by producing so hard so long with no secondary recovery.
I any case they are next door to paramount who is drilling 25 gold creek wells as we speak. In their latest sale and at the GMP confrence they feel gold creek has the same potential as the lands they sold to seven generations. The paramount president says they got 10 million per section for the land they sold seven generations. Nuvista is develop in here as well so if they take a patient approach, let some of these well results come forward from their neighbors, and they a lovely looking land mass they should pop here. Black Bird, the road kill company of the montney has a martket cap of 400 million.
I think they have a good potential run here but i am concern abouth the maturity and execution of managment.