re the "alarm" blackshale is drilling 2nd well of 2 on another property.i can tell you that the "beard" is o and g gas ltd.(front usually for privatco).could be 2 separate farm-ins but i doubt it.some of the land in question or nearby is actually covered under the homestead rule in alberta-that is-the rights can't be sold because they have been in the family forever.deal with the landowner only!
shalepoint obviously waited untill they could make a go of it-fen is not the only egg in the basket and efficiency is efficiency(3 holes this winter under their name).
compton petro just bought a bunch of rights near and abutting.shalepoint-imho-is working towards a hedge program ala compton where the supply is more important than the immediate profit.good for fen but patience and a firm hand on the farmout deals is important.
the strategy here is to gather as much land as possible and prove up what you can.sometimes not too conducive to the average shareholder but this is geo in nature.
barrick gold is selling barrick energy only a few short years after purchase because they need the money.where do they go now for protection? mfc-owner of compton-and guaranteed supply.
i agree with a past poster who said that wilson will succeed here.now?later?
alton is a jv deal for the for seeable future except for seismic and maybe another vertical.
in the mean time-6 mil is going to go to work.i see some land and maybe 3 mil comitted to a frac on the 1 well or maybe collateral on a fire sale somewhere else.
patience my friends