FORENT ENERGY LTD. V.FEN

Results Out

[seanatis]

Another headscratcher of a release. No production update. Cash flow is starting to look good.

[Yajne]

not sure how you can conclude that cash flow starting to look good. Prod over last 3 mo averaging 11% lower than prior 3 mo. Pi$$es me off that FEN still extremely 'toppy' with G&A expense almost 37% of revenue. Reminds me of a light bulb joke....how many vp's does it take ...to drill a few post holes? Not happy with the underachieving crowd running FEN right now!

[yabotit]

From MD&A looks like we have to wait 4-6 weeks for "optimized" results from the 3 holes drilled @ Twining. Anyone know how long it will take to get better water handling equipment on site at Provost?

[Backwardblade]

Good question.  I can't answer that, as I am still working on educating myself on the process.   As for myself, I was hoping for 300 BOE a day.  That obviously hasn't happened due to the date the Twinning wells came on line, and the associated downtime for maintenance and site improvements.  I was looking for a modest 3-4 c gain on 300 BOE.  6c on 500 LOL!  &

[Yajne]

Good post bwb. The problem I'm having with FEN mgmt currently is that they're still trying to act like a big company instead of clawing and scratching for every dollar like all other mice-nut sized companies do in early years. Mature companies will run at 15-20% G&A levels...I acknowledge that they may need to run a few points higher in their growth years, but 37% is plain stupid

[yabotit]

It appears from the below that FEN will be able to get to well north of 300 boed in the very near term.  PRODUCTION Despite an exceptionally wet spring, Forent’s oil and natural gas sales during Q2 2014 increased significantly, averaging 172 BOEd compared with 54 BOEd in Q2 2013. With the recent drilling of 3 wells in the Twining field the Company’s total field

[mike49]

maybe it's just me me but i read things a whole lot differently. no more money spent on pie in the sky at white specks or the maritimes but keep the spare key just in case. optimise what you have(at twinning) and show that money is well spent and commitment is real. the fad of the year is all star(so someone says) management teams selling off and starting again... if fen is clean then a rto