Post by
billythekidd on Sep 08, 2022 7:25pm
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.
Comment by
billythekidd on Sep 09, 2022 10:40am
Good on you Decklar Management we just hit a new 52 week low! Oil showing green on the screen and DKL having another Red Day. A Canadian quarter will buy you a share ..... lol
Comment by
nightshaft on Sep 09, 2022 11:12am
What a wreck. I would not advise anyone to buy this stock until they actually start to produce or drill. DKL could be delisted sooner than later if they don't start to generate some cash. A LOOSER STOCK.
Comment by
billythekidd on Sep 09, 2022 1:29pm
I would assume that OZA1 has been producing about 1200 bopd since July29 th as the Company has not released news about any changes to production. It would be a material change if the well is shut in and they not advising the Market. I expect to see August production numbers next week or its a total lack of disclosure by Management.