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RMP ENERGY INC T.RMP

"Iron Bridge Resources Inc, formerly RMP Energy Inc is a crude oil and natural gas company engaged in the exploration for, development and production of natural gas, crude oil and natural gas liquids in Western Canada."


TSX:RMP - Post by User

Bullboard Posts
Comment by raggetyjackon Nov 11, 2011 10:47am
217 Views
Post# 19229630

RE: 3Q looks decent, whats your take Jack?

RE: 3Q looks decent, whats your take Jack?It's as expected.I'm quite pleased with the progress.Oil battery is up and running on budget.Waskahigan Montney development is on track for 30 plus wells with quick payback to boost cash flow.Ante Creek Montney is being developed. I expect this will remain hush as it's confidential and with good success they will be looking to add further lands.Peyto is proceeding with Wilrich farm-in and no need to worry on that front. These wells are coming in at 4-6 mmcf/d with good NGL and very low cost. Peyto is continuing to decrease costs and RMP is getting a 40% interest in all the wells they will be drilling on the RMP Wilrich lands.Lots of additional acreage to exploit when gas prices recover at Kaybob, Resthaven/Bilbo and other areas. Production is gone from hardly any oil to 46% oil revenues by year end and shortly thereafter it will rocket past 50% oil revenues to boost earnings by a substantial amount.Should be rocketing towards 3 bucks easy by year end...imo.From this point onward some real production addition numbers will begin to materialize. Expecting this spring they will have to probably expand the oil battery to accommodate increasing production. The battery put in place can handle 2500 boe/d oil and 10 mmcf/d gas for a total of just over 4200 boe/d. Hence I'm expecting production to go from 3400 boe/d now to about 5500 boe/d exit rate and easily over 6000 boe/d early in the new year.GLA...
Bullboard Posts