RE: RE: RE: RE: RE: NEWSBig increase in reserves but market yawned after report.
Obviously the buying was anticipating this good news and drove the price up to these levels.
I think the company needs to show that they can bring the behind the pipe production online but more importantly that they can make money on these wells at the current depressed prices. Will buying the 13 sections prove to be a repeatable story?
Mgmt seems sure that it is. Would love to see a bunch of million mcfpd wells come in at Sedalia. They have the land package and soon they will have a processing facility. The announced size of 7million mcfpd for the facility would indicate they expect a lot of success.