Buyout talks Well this is what we have been waiting for. I guess the question is who? Is it Crescent Point, Legacy, Penn West, Petro Bakken, Torquay, Pengrowth, or Zargon. I wish in a way that they would go for a merger of equals with Torquay (TOc.a) and get an additional 10 million dollar line of credit. I think we could have got a bit higher. I think that waiting for the warrants to expire is likely the intent but our production has declined from about 350 boe to 250boe in the time spent waiting. I participated in the last PP that included the warrant and they may as well have not included it because there was never a glimmer of possibility that we would be exercising it. I am still long but I would like to see a detailed update with the estimated year end exit production based on the two new wells being drilled and successful. According to my calculation based on average initial production of 75 boe/day times two equals a possible exit production would be about 400 boe/day.
Do your own Due Dilegence
Good Luck
Sasky