RE: Chizzler.....LOL Sonny you do a great job summing up how I think a lot of us Feel.
Prof_Jd your post make me laugh :) But it really doesn't take much to move the stock up or down on a microcap penny stock with average volume of 700 000 shares a day . There could be news any day to move this stock up or down . If news comes out on the Kipp well , BWD sells assets , they carry out any of their other options on strategic alternatives .
Waffness you must be short the stock just a guess :) They are not the only Junior exploration company to face adversity. Strapped for cash sure . Over a year ago this was the investment to play when the AB bakken was pure speculation. Now that it is proven results the stock is close to its all time low . I see a great oppritunity. If managment plays their cards right . Not once have I stated that this is risk free. No stock is , but a sinking ship we will see . If I go down with it I will not regret my investment. I will be disapointed Managment couldn't polish the diamond they are sitting on .
You say that they have no Oil to speak of ??? Both of their wells they have drilled have produced oil . The info on Kipp was : first two weeks of intermittent production the well has recovered over 5,000 bbls of light oil.
The Spring Coulee well has now produced approximately 2,500 bbls of oil since it was fracture stimulated. Even if the Logistic of the Spring Coulee well went array . There was oil .
The Farm in With Legacy is an asset ,they have recently aquired more land . Which leads me to belive they are going forward with the play not abandoning it . 20% costs on a wells that should cost around 6 million . 1.2 million / well For 50% working interest on wells with possiblity of 600 barrels of Oil / day .Doesn't take long to get ROI on those numbers .
As for thier options you read what they have stated in the press release same as I have . a sale of the shares of the Company,either in one transaction or in a combination of transactions; a merger, recapitalization, arrangement,amalgamation or any combination thereof; or a sale of a material portion of the assets of the Company.
Personally I don't think that a bit of dilution at these levels would be extremly harmful. If the company decides to go that route . To recapitalize to fund more drilling . But they are weighing their options first.
Bowood's Ceo Robert Mercier said in a recent interview he doesn't want to sell shares when they are trading below .20 So he obviously values the shareholders best intrests. We will see at the end of the year who laughs last 8)