RE: This company looks interesting ...This company has completed for the most part a "very interesting" and ambitious program in Stoney Creek. As for the deal with CBM methane in Springhill Nova Scotia I have no idea how that translates into value. Read what they say and still do no understand what it means.
Stoney Creek has had several set backs i.e. a problem in translation in Europe that overestimated reserves and ran the stock way to high. A bad luck delay with a rig collapse, cost overruns as equipment seemed to be on site twice as long as the Press releases indicated. (Standard for the Maritimes)
The question now with the stock a 56 week lows with small volume is, did the extensive program work out, as the trading indicates there is no positive evidence as yet.
A 250-500 bpd flow rate proven would put a bottom on this stock and firm things up. The cost of this program of down-hole-heating per barrel has to be established. If it can produce what does it cost to get it down the road to the Irving plant?
Someone mentioned gas production sales, I have never heard anything about gas production, the company did release that the 30 odd well clean up only yielded 1 mcfpd. To small to take into production I would think but it would be a great asset to use for down hole haeting, if that process works!
IR not great. Hope this works out.