RE:On Montney declines & production + CJJ Pool 16.000 Boe/d I think, they have a good idea (and the type courve) what to expect from Gold Creek. They just can't disclose any data until the wells are in production.
The first thing I noticed in the November presentation was that the second well from the same pad is an extended length lateral going southeast. I thought, finally they are drilling long and diagonally like most producers in the Montney and the adjacent JJJ pool.
These wells cost more to complete with more stages and sand tonnage but over all they are more prolific. I think, the initial production should be expected higher than well 3-22.
Anyhow, I poured a lot of money into this thing back then but I stopped when saw all these options totaling more than 2 million shares.
At the end of the day, this extra pay is coming from our pockets. I am OK to reward the senior technical staff (engineers and geologists), their salaries are probably frozen and all existing options expired or way out of money.
But these "do nothing" directors, 6 or 7 of them, already drawing fees and share rewards. They are not poor guys, some sit on many other boards. I thought, they could pool some change together back in July to save Ante Creek. I would consider issuing 15-20 million shares at a $1.15 less diluting than 2 million options at $0.75.
Sorry, it's all in past, but I just can't get over it.