RE: RE: 2500 BOE/DAY And one of the reasons is this..
Rock is forecasting 2012 production to average between 2,500 and 2,600 boe per day (assuming further non-core asset sales of 120 boe per day during the year) generating estimated cash flow of approximately $23 million (
.60 per share) based on a Western Canada Select ("WCS") price estimate of CDN $81.00 per barrel.
With cash on its balance sheet, available bank debt and its inventory of crude oil drilling locations, Rock is well positioned to execute its business plan, grow oil production through the drill bit and pursue strategic acquisitions/mergers to complement its existing asset base.
And they are about to..
Up to nine (nine net) heavy oil wells are expected to be drilled in the first quarter of 2012 as part of a planned 21-heavy-oil-well program for 2012. In addition to the drilling activity, Rock has successfully added more than 5,800 acres of undeveloped land in the first quarter of 2012 in a newly discovered oil property in southwest Saskatchewan, and expects to complete and evaluate a 3-D seismic program on those lands during the second quarter of 2012.
And it´s trading at market ca of 68Mill $cad, whose eyebrowns would not be raised reading the above ?
Exakt