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Decklar Resources Inc V.DKL

Alternate Symbol(s):  DKLRF

Decklar Resources Inc. is an independent international oil and gas company. The Company’s principal business activities are providing funding and technical advisory services to companies involved in the exploration and development of oil and gas properties in Nigeria. The Company is developing three fields, all located in Nigeria, including the Oza and Asaramatoru Fields located onshore in Oil Mining Lease (OML) 11 and the Emohua Field located nearby in OML 22. The Oza Field is an onshore conventional oil field, on dry terrain, in the northwestern part of Oil Mining Lease (OML) 11, approximately 30 kilometers (km) southwest of Port Harcourt, which is part of the Abia State in Nigeria. The Asaramatoru Field is located onshore in the shallow swamp in the southern part of Oil Mining License (OML) 11 in Nigeria. The Emohua Field is situated approximately six km west of the city of Port Harcourt in Rivers State and approximately 30 km west of the Oza Field.


TSXV:DKL - Post by User

Post by billythekiddon Sep 08, 2022 7:25pm
173 Views
Post# 34950892

Bid at 52 week low !

Bid at 52 week low !News May 2021...... Decklar prepares for 0ZA 1 well re-entry with plans after for two more Re-entrys on exisiting wells and 8-10 development wells for full field. No wonder we looking to set a new low in the am with one well re-entry completed in the past 16 months and this well is not even flowing into the pipeline despite Decklar stating in numerous news releases that the infrastructure was in place for it to do so.  On the  July29th News release the company stated the well had stablized at a rate of 1184 bopd after re start on July 25th and Oil was being trucked to the pipeline. So we should have 43 days of production which would equal 50,912 barrels of Oil and if the net back is $50 a barrel that should generate 2.5 million dollars. We have had no news on OZA 1 since late July so one would only assume that nothing has changed productioin wise. So why has Decklar  Blount/ Halpin updated shareholders with August production numbers ? If you invest in a Public Company should it be a guessing game about production numbers and when the possibly might do a well re-entry on OZA 2 or 4 or a new Horizontal Development Drill well ? I only blame management for the current share price as the commodity of Brent crude is up 50 % from  the date when they prepared for the first well re-entry. Failure to excute as planned and a lack of transparency to the market is a share price Killer.
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