Bridge Resources Corp V.BUK

Production

[TORTOISE10]

Received the following from IR re: my inquiry of were the instalation was considering the bad weather in the North Sea.

"Completed and currently around 20MM a day we will press once we are at the expected run rate of the well as stated in our prior releases for 2 days.
Stay tuned"

Not sure what the last part means but we are ramping up now and should be full throttle by this time next week. Good time to add a few at these low prices.

Tortoise10

[molymoney]

Sounds to me, they want to only release the news once they have reached about 30mmcf/day and it flows at that rate for about two days afterwards signalling a stabilized rate. Possibly news would be out late next week orlater.Many suspect the safety net of the bonds (not all), will collapse at intervalsaround April . Take with a grain of salt , but it may finally flush out moniesin that sector into

[mikerosoft666]

Moly...You see any downside risk here ?  What kinds of problems can they run into with the flow when they are turning it up ?  Europe sure needs gas.Is there a site like the EIA site that lists inventory builds in Europe the way they do for North America ?  How are they doing over there for supply ?  Anything like our situation here ?Would their gas prices be contractual at $8

[mjl777]

UK NBP is down quite a bit this week as are other energy commodity prices. BUK is getting beat up, but it will be back! Lots of good bargains in the energy sector today if you can stomach the risk. Last week I thought BUK was being manipulated, but it's just shrewd traders looking to buy large blocks on the cheap. Almost always 4 lots on the ask side to step down the price. This week, herd

[mjl777]

Based on previous communications, this could be as few as six days which would put the release out on Tuesday or Wednesday next week. Hope so.

[mjl777]

There is always some downside risk as the average price they are projecting may not be met if energy commodity prices continue to fall. This week the price of UK NBP declined approx. 13% between Feb. 9th and Feb. 11th. I don't have the Feb. 12th close but it probably dipped a bit further today. The Feb. 11th close is below the average price used to calculate their projected cash flow in the

[mikerosoft666]

Yes..  I think this is what I was looking for...  anyone who can assess the downside risk potential.However,  even using 20 as a gauge, and at $7 / mcf, and a USD to CDN conversion factor of 1.2,  I still get  $ 61,320,000 CDN,  divided by  131 M shares,  that's cash flow of .47¢ / share...While the economic slump gets worse,  N Gas demand

[molymoney]

I believe you are assessing the downside as good as possible for now. The only thing i can add, is thattheir in an inherent gas shortage in the UK, so they have to make up the difference from import other thanNorth Sea. Russia to a great extent are controlling gas prices. We are going to fluctuate with the weather andthe problems in the global economy. In a few days we are going to know the flow

[mikerosoft666]

That's kind of where I was drifting in my thinking.  I am setting my expectation that I may hold around these prices for a while.  Even a news release may not start a fire.I was more concerned that they are able to sell everything they can flow into the pipeline.

[Mrigs]

You are also forgeting the oil that is coming back with the gas....24.4 barrels of oil per million cubic feet of gas24.4 * 20 = 488 barrels a day at 20 million cubic feet 488 * $35 = $17080 per day in oil at present rate. 17080 * 300 days = $51240000 in oil sales (assuming only 20 million cubic feet for 300 days a year) + GAS ...... Nice well.... https

[dirac]

this oil (liquids) sells at a premium to Brent oil , probably at $50 per barrel