RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:That term completion again.JNB,
Yes it was a buying opportunity. And not in hind site as you can check my posts. Some investors simply panicked on the news release that January was the completion date when that was the Realistic timeline from the begining. The more you know the better off you are turns out.
On a different note I have found out that they (THE INDUSTRY) can test samples while they drill. A geologist comes out to the drilling site and LOGS the hole.They log both the Vertical and Horizontal sections. He collects samples every 5 meters as well as gas tube samples which are sent off to a lab to be analysed. This apparently can give indications of the levels of hydrocarbons present in addition to the rock formations being drilled through. Would be able to stear the risk profile for each well or indicate future opportunities if certain geological formations unexpectedly show positive for hydrocarbons.
Also confirmed that Encana is drilling Upper and Middle Montney formations ... the same formations that BBI is working on (not really news to most but maybe to some). To which I can not confirm the same local area or even neibouring area but in general terms still within the Peace region. I imagine that there can be a fair amount of variability in productivity for formations the farther you get away from the source. Still it can add a small layer of bullishness onto my sentiment for BBI.
Does anyone know if the ENCANA wells in close proximity to the BBI property are exploiting the Upper and Middle Montney? That bit of information would be very useful.
Cheers!