RE: RE: RE: New 52 Week Low No Problemo WeKnowEnergy...
I think the continued weakness in the SP is a result of speculators who were looking to make a fast buck on a prospective buy-out exiting now because all indications are CPG will not be making an offer anytime soon. JMHO.
I also get the feeling there's still considerable uncertainty out there on when the timing of their waterflood program will really start to kick in. I'm not saying it won't happen, but when?
On the plus side all of the infrastructure is now in place in DM2 & Ethel, so they can bang off wells and tie them in quickly at a minimal cost. Well drilling & completion costs have been coming down too.
As well they have fulfilled all of their land lease commitments so are not obligated to drill everywhere just to retain their land holdings. They can focus on drilling high-impact wells from now on.
Doug did his best to re-assure investors of a bright future for the company, which as I said has all the pieces in place now to add significant value for investors over the long term.
We shall see if what they say holds true.