RE: re:shareholder updateI compared this March presentation to the January one and I am impressed at what I read.
Acouple of points....just my opinions:
-Very impressed that they are doing a 15 stage frac....that is the right way to do things. Alot of companies are doing 8-12 stage fracs(example AVG first well was a 11 stage frac)...but glad to see RBE is doing things the right way...go for a nice ip flow rate first well. While more fracs equals more time and money...glad to see this..if the fracs all go off "right"...well I think they will easily do better than 200 BOD...
-Noticed managment increased amount of locations from 15 to 20 plus just on existing land.....and this part is new too ¼ Contiguous section being acquired and additional land acquisition anticipated
This is nice too see....RBE has become a total oil focused cardium company with ample opportunities. In fact, I do not know of any pure cardium companies with a market cap of under even 20 million (other than Avatar Energy but it is getting up there) maybe one poster could name me one?? This company is very opportunity rich for it's market cap...the risk return here is beautiful. The closest comparision I can think of (and not even that close) is Blackdog Resources. Blackdog has a near 10 million market cap but it only has 15% of one cardium section and some other scattered production in North Alberta...but my point is...for RBE market cap...can not think of any other junior with as much opportunties versus market cap in the Cardium area. Just very few pure play Cardium juniors publicly exist....lol if only RBE had this package last year when junior venute oil companies were hot....
-Also noticed that estimated gross reserves and gross production increased on March versus Jan presentation. Really...judging by every other junior and up company in the Cardium play presentation I have read (I am obsessed with oil juniors sure I have read them all)...I give RBE management high marks for credibiltity...the numbers they use in the presentation are very reasonable. Reserves of 147k per well, 200BOD, and 4 sections per well....all very reasonable and in fact conservative....I like that...no pie in the sky numbers. Till I see otherwise...I really like how RBE new CEO is operating....all this targets are very doable.
-Fow awhile I expected April for well results...between break up, the time it takes to test the well, and the extreme demand for equipment in East Pembina...exactly what I expected...hopefully I can nab more shares under 17 cents. Now that I am solidly in the money on my whack of Petrobakken shares...I can sell as needed if anybody wants out at 15 or 16 cents in RBE...I will buy them...please inbox me so I can make the arrangements and then I can be ready to bid.