RE: RE: Big crossesBowood webcast is up now on CNW. Stockhouse isn't letting me post the link but its easy to find. Some interesting tidbits are. The two exploration wells each cost about 10 million which is stupidly expensive with anticipated development being 5-5.5 which is also very expensive. The upside of this though is they will be multi laterals once development begins. Mercier said hes never seen a play better suited for multi laterals which reinforces what DTX's Ceo said at the Enercom conference. Mercier also seems excited about were the play is going especially since the confidential wells are starting to become public. Legacy is very bullish on the play still, as is Murphy. Shell just bought a 50% interest in Raimounts 33 sections offsetting the South and west of our Spring Coulee block. 2.2 million drawn on our 8.2 million line of credit. Once cash gets short asset sales to continue funding our share. Honestly though if the Kipp well goes good and if the cores look good from both wells I really don't see why LEG wouldn't buy us out. Seems to make sense to me. First frac sounds like a gong show but from the sounds of it they have made changes and the Kipp frac which started today should go better. The SpringCo well is on production as of Sunday so Nov. 20 will give us a 30 day production history.
Sum it up I'm disappointed in the cost of the wells but science isn't cheap and if thats what it takes to make the play then so be it. We just need one 1000 plus IP number in the play to get us back in the limelight.
NLR