GREY:LSTMF - Post by User
Comment by
the_oracleon Aug 12, 2010 3:54pm
400 Views
Post# 17346086
RE: RE: Q2 financial and operating costs disappoin
RE: RE: Q2 financial and operating costs disappoinPBN has a strong management with a proven track record as leaders of the exploitation of the Bakken particularly. In the recent conference call the management did believe a 10% growth in production would be achieved from Q4/09 to Q4/10 - roughly 50,183 boe/day. More drilling rigs will be set up to guide these production levels. Cardium will have more drills contracted if needed. PBN intend to drill 2/3 of its planned total number of wells in the second half of 2010.
Growth PBN has a credited and proactive management, they hold all the charecteristics needed to create growth in the company. Land base in Monias and Horn river Basin resource gas plays in NE BC which provides the potential for another tier of growth. In addition to the 500 Cardium locations, PBN has identified 1,300 bi-lateral drilling locations in the Bakken, 350 Mississippian locations in Saskatchewan, 17 sections of Montney and 97 sections of Horn River.
The light oil in Bakken and Cardium will provide a high netback and strong cash flow growth platform.