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Ironhorse Oil & Gas Inc. V.IOG

"Ironhorse Oil & Gas Inc is an oil an natural gas exploration and production company. It is engaged in the exploration, development and production of petroleum and natural gas reserves in western Canada."


TSXV:IOG - Post by User

Bullboard Posts
Post by oilinvstron Oct 12, 2010 3:27pm
450 Views
Post# 17555039

A little patience needed

A little patience neededIronhorse is changing their focus to being an oil company rather than a gas company. This change will increase cash flow markedly, and make them a very attractive takeover target.
At the end of this year they'll be producing about 950 boe/d, of which only about 20% will be oil. In a year however, their production will be near 1200 boe/d of which over 50% will be oil.
IOG has an interest (along with Daylight Energy) in a very prolific Nisku oil play in the Pembina area of Alberta. Two wells have been drilled to date, with a combined production rate of over 3000 barrels of oil per day, (about 700 bopd net to IOG). It has taken considerable time to overcome regulatory hurdles, but about half the production capability should be on stream early summer of 2011. This, plus increased production from their other oil production areas will increase cash flow dramatically, and the stock price should follow. I expect the stock price to increase substantially as we get closer to summer of 2011, and the shut in production can finally flow
Bullboard Posts