Good News I see the news as it's shown at face value, and I think it is good news. *good post, Vanboarder*
Key Points: Kipp - Well production flow rates are not yet stabilized due to "high pressure" fluids influx to the wellbore. "issues are now largely resolved". They confirm an overpressured zone so, after they burp this baby, I believe high flow rates will follow after it cleans up from drilling and completion fluids invading the formation. They noted that comparison data from the area shows that they appear to have "one of the better wells in the play to date" and at this stage, I see that as very positive.
Spring Coulee - They show LIGHT OIL and OVERPRESSURE, and favorable formation properties for peak oil production. They recognize failures during the well completion and they likely now have an idea of a favorable solution for their issues experienced with this well and will aproach the next well with fresh ideas. The well is still cleaning up and the company announced that they believe that the area is highly prospective for the two formations, Alberta Bakken and Second White Specs.
I still believe that they will downplay true flow rates as the whole area seems to be on a form of "tight hole status". Market manipulation and lethargic share prices is not a sign of LEG/BWD showing a failure in their properties. It will likely take more time for us to get rich on this investment, certainly not today by the look of the trading.
I'm wondering if we see news that they picked up more acreage again...........??