Post by
DrNo1962 on Aug 05, 2021 10:31am
O&G Flow Rates, etc....
John Ryan, the company's chief executive officer, stated: "We expect to have three oil wells producing oil by the end of the week. Minor maintenance may be required before additional wells begin producing. The water disposal well will be activated immediately and will receive third party water. The oil will be skimmed off thereby generating additional revenue."
These 3 wells now producung for almost 2 weeks. Anxiously waiting for more news on these wells. Junior miner w/ positive cash flow to reduce or eliminate dilution and/or dividend to shareholders? THAT would game-changer here IMO. Doing some research and Respol spent quite a lot of $$ in AB/SK since 2015. This divestiture seems like more of a corporate directional change than because these wells were necessarily unprofitable - certainly not at USD $70 WTI.
Comment by
DrNo1962 on Aug 09, 2021 8:29am
Spoke too soon... looks like dividend buyers showing up this AM with big selling at 15 cents. See what the week brings. Need significant news to break out of this pattern. SHL needs to demonstate it's more than just CNC dividends.