RE:RE:RE:RE:That term completion again.bmeister2 wrote:
Anybody know why the drop today. Reserves ? Thanks
I would think the drop has everything to do with unrealistic expectations of some investors with less than adequate knowledge regarding actual timelines. They probably see this as bad news and that the wells should somehow have been drilled/fracked/compleded by December.
Its funny as over the past month Ive read posts with some speaking in very authorative voices that BBI would put 2 rigs on location, that they will frac prior to Christmas, that they would be fracking one well while drilling the other.... all of which are complete nonsense. I have tried to explain the timeline would be Mid January and this is based on realistic and common industry practice and timelines. A few others have said so as well and I'll tip the hat to Oilking since he is on board with tons of knowledge and also has the same timeline.
So basically the sellers are the misinformed. Nothing has changed and infact this timeline confirmation simply confirms that these wells are coming along in a standard indursty pace and nothing seems unusual.
Cheers!