GREY:VFGGF - Post by User
Comment by
stockwrestleron Nov 29, 2014 7:00pm
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Post# 23177688
RE:Q3 results are out
RE:Q3 results are outIt seems to me now a longer term HOLD at these levels:
"Pinecrest continues to optimize and expand its water flood project areas
in the greater Red Earth area. The primary focus of the Company's available capital
will be on these projects for the remainder of 2014 and early 2015
due to their superior long term economics versus primary drilling."
and from previous NR "In addition to remediation treatments, Pinecrest is looking
at more cost effective and potentially improved initial completion techniques
to be undertaken when our drilling program resumes.
With lower capital costs for new wells, and improvement in production,
Pinecrest believes positive steps are being taken to unlock the large oil resource
in the Greater Red Earth area."