Pennant Energy Inc PENFF

RE: You have seen the pictures of the frac

[stateside]

Anyway, sh*t happens in the oil-patch, so get used to it. 

 

Agreee...always a risk.  It's just the luck of Pennant and it's shareholders that the first test out of 16 goes bad on the well that was supposed move the stock price higher for the next placement.  DEI said the next well will spud by the end of February before PEN can start receiving cash flows.  All 15 prior wells had tested well without any reported mechanical issues.  Instead of 100% success rate we are down to 95%.  Unfortunately this means much more dilution.....and this is coming from someone who has a nice size position here.  Dead money until April when well #3 tests is my guess.  Have to be patient now.  They better find out the problem before #3 starts.

 

stateside