RE:RE:News / DD-10 Excerpt: "A substantial production increase is anticipated upon completion of the current development drilling program".
Substantial - I'll through a dart and guess 950 dopd more or 475 net to POE.
Bank of America predicts $100.00 oil in the next two years. We are getting 94% of Brent pricing which should make us a cash producing machine if all the planets align. Wish we would get some recognition of what we have. Time to call for some help. I'm thinking r/wallstreetbets
We were supposed to giver back L-53 with the exception of our producing lands by Jan 2021 I believe. I haven't read yet if that has occured. Either that or I missed it. Personally I hope POE does not cash out of L-53 and pay a distribution. I would like to see management gets some other producing assets with the oil price windfall we are now experiencing. Even better if BAM oil prediction comes to fruition. POE management did state they might partake in the offshore auction at the end of 2021 or early 2022 is when it is supposed to happen. Maybe Jeff should do what Elon Musk is doing and invest our proceed$ in Bitcoin :)