RE: RE: PFC going back down to 50 cents Juts everything take ages with PFC. We are now in September and they still have not yet began to frack and flow test. In their last press release they said they will Frack and flow test at the end of august. We are september now and NOTHING. As usuall they are late.
Tax loss season begins usually mid september. As it will take a minimum of 3 weeks to have the fow test result of the 1 rst well. We will not have any result before september end. The tax loss season will already have begun.
As we are at historical low. Everybody will sell its stocks for tax loss. So we will have a massive pressure.
Honestly I don't see any test result of the 1rst well before october as I am sure as usuall it will takes more time than forecasted.
Now you understand why I see 50 cents within 1-2 month.
PS : They need 500bpd to beak even with the well. If it is under 500bpd it is uneconomic. Time will tell we will see.....