The latest financings of $13m & the 2 new Montney wells Thanks to the two recent financings of $13 million, BBI can drill two more Montney wells (net), as quoted below. Although BBI has not disclosed much about the location of these wells, I hope they will flow at about 700 boepd (IP 30) based on the existing results. So I continue to hold BBI despite the recent significant rise. Patience rewards folks.
I also hold Prairie Provident (PPR), the new oil-weighted producer from Alberta, because I can't believe that PPR will continue to trade at just $22,000 per boepd for long with 75% oil/liquids and a stellar balance sheet.
I quote:
The revised drilling program will consist of the previously announced 02/2-20 Upper Montney well, which was spud on October 8, 2016, at least one CEE eligible well, and one CDE eligible well. It is anticipated that the Program will be completed during the first half of 2017.