Spoke with Garth this afternoonFull agree with you Veritas I have always looked at the fundamental picture - you just need to read some of my previous posts to see that but I do get frusterated that we have a "rogue" director who needs to be punted.
Anyways called Garth this afternoon - i am sure if he reads this he now knows my identity.
Asked him about Darrell and he remained tight-lipped about anything to do with him. this tells me he is probably on the way out.
He did however talk a little about what they are up to. He spoke at length about the completion being 71 stages (individual stages vs. intervals of a clustered stage). He felt this would allow for a much more effective frac than the 5-26 and 6-26 wells. He talked to me about the fact that by using an energized foam they would be using substantially less water than the previous two wells. This reduction in water would allow greater visibility from the formatio at an earlier stage and less trucking costs to dispose of the water afterwards.
He was very tight lipped on the type of energized foam (N2 like 7gen??) and tonnage but said it would be something to watch for.
He likened the press release to a trailer for a an academy award winning film - where the feature length film is just around the corner. This gets me excited that they will do something exceptional with this well. If the resource is there, they will get it out, that's forsure. The energy he had on the phone was quite amazing for a CEO dealing with $46 oil. I am very pleased where this company is going and will most likely be adding to my position over the next couple sessions after that call.