Twin Butte Energy Ltd TBTEF

Drilling Update

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Per the Daily Oil Patch Bulletin TBE pulled this last week five more licenses to drill 560 meter deep low cost heavy oil wells. On Wednesday a license at Lloydminster ( I assume that to be at Earlie? Silverdale?)) and four more yesterday at Frog Lake. It seems that the end of year guidance to hit 13,900 BOE/d production might get exceded citing a recent 300 BOE/d private purchase that brought the current daily production  number to 13,800 boe. Still lots of turmoil in the NG and heavy oil sector. Smaller heavy oil Lloydminster area drillers PXL.V and RE are both guiding to 2800 BOE/d by year end are still sitting share price wise in neutral. CR producing over 5000 boe/d heavy oil nearby Lloydminster continues to get hammered now down to near $6 a share. PXX is behaving poorly. All told the whole sector stinks even BTE yet amid this shoulder season NG prices are snaking up and there is lots some consolidation in the light oil sector with some operators aggressively purchasing high netback profitable production. Yesterday CPG just cemented a nice hold on Provost area light oil purchasing privately held Cuttpick for about $73 K per flowing boe. Stay tuned.