GREY:CXEYF - Post by User
Post by
Bobwinson Aug 28, 2008 11:14am
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Post# 15416340
Questions
Questions What happened to the condensate? How much of that is in the estimates? Do they have the facilities to extract 70 barrels per mcf? Is it happening now? If not, when? 22million X 70 = potentially 1500bpd so it's important.
How much did El Azzouia produce before? 1700bpd gross now, couldn't find any amt in Q2 PR. Trying to figure out what EZZ 17 is actually producing. Something isn't working right because they said they were lowering estimates for EZZ.
The incremental improvement from 1200boepd in Q2 to 1600 in Q3 and 2800 in Q4 is great. The problem was in the consistent overpromising earlier. It made us think that 3000boepd was a slam dunk once El Bibane was hooked up.
Cashflow should really ramp up and CAX.to should be less than 2 X cashflow if Q4 comes on strong as forecast. Unfortunately there are stocks selling for these kinds of multiples. Juniors are out of favor but eventually CAX.to should draw some attention. If they can just avoid hyping too much and execute, we should have a higher stock price in a few months.
Bobwins