Long Run Explor Ltd Ord WFREF

RE:RE:RE:RE:RE:RE:RE:LRE is a Fantastic Buy

[jerrybe]

Reflect,

Thanks for your comment. We are a bit off topic with SGY on this board but just for the record, the $550M of debt you mention was before the asset sale of $430M. All proceeds went to reduce the debt that is now back down to $120M.

So lower debt and much lower EV than you stated in your post.

Further, their assets are much better than most operators, contiguous, low decline, high IRRs. Not sure many producers can claim having such assets...but still interested in LRE.

I think Iamwcw's claims were right on the Montney wells. The five wells met expectations but reading in between the lines of Q1 and where their capital is going to go and you see that they will go 100% in the Cardium to high grade their capex. Highlighting a problem that most E&P firms have these days: At lower oil and gas prices, many assets are not producing returns high enough to warrant further drilling.

That being said, they do have good Cardium assets that seemed to have delivered well above intiial output. I will do more digging. GLTA!