GREY:CUDBF - Post by User
Post by
TenBagson Sep 21, 2011 1:29pm
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Post# 19067076
Dry Powder
Dry PowderGood Afternoon All,
As we all anxiously await good news lets just keep in mind what management has stated in their July 28th news release:
https://www.stockwatch.com/News/Item.aspx?bid=Z-C:POP-1865533&symbol=POP&news_region=C
"Petro One Energy Corp. plans to commence its summer development drill program on July 29, 2011, with a focus on ramping upproduction by summer's end. This program is planned to start with six wells stepping out from the discovery well on parcel J5 to grow reserves and build production. Once those six wells are completed, Petro One will still have 11 strong targets remaining to be drilled on half of J5 lands where seismic has been shot to date. Additional seismic is planned to cover the rest of the J5 property to generate further drill targets and exploit the full potential of this acreage. All successful wells from this program are planned to be completed and brought into production by the end of summer".
This is only the first paragraph but in my opinion, a wealth of information in such a compact statement, but there are a lot more goodies in it's entirety. In my opinion, this speaks well on managements execution - "with a focus on ramping up production by summer's end". They have just done that by completing and capping the additional six wells(as posted in Drive By) and know the focus will be on the other 11 "strong targets" remaining on half of J5 lands. I love the last paragraph. Folks, this Friday, the 23rd of September is the first day of Autumn!
I have exhusted all my dry powder and wait for the good news to come. I'm choosing to have a fantastic day and I wish all of you the same!
TB