GREY:VFGGF - Post by User
Comment by
waw33on May 13, 2013 9:42pm
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Post# 21387827
RE: This is BS...
RE: This is BS... I guess even though raw numbers aren't there, the 23% avg production compared to 3 months prior shows it for sure. They made 2 cents a share instead of 3 but it looks like this was because they got all their supplies in order for break up ahead of time. So they'll be spending no money until they drill again in July. Not a bad plan, cause it costs more to transport during break up. Lower netbacks also due to initial costs of implementing waterfloods. Not sure I understand the part about being prudent and trucking the water...
Overall I really like the 4315 avg barrels a day, and the 24% savings in cost per well while keeping the 100% success rate is HUGE. All wells onstream and things inline for breakup. Waterflood should help the lack of additional production being drilled over breakup. Don't like they they didn't release waterflood numbers, and I'm not sure how the market will see that 2 cents vs 3.
Tomorrow will be very interesting. Rediculous amounts of upside, but it really depends how the market will view a couple key points.