Bellatrix Exploration Ltd (Canada) BXEFF

RE: RE: RE: RE: Bellatrix Exploration Ltd. Provide

[barqshasbite]

I agree that BXE management has good experience with their wells, like I said, they have good land and drill good wells. But all I am saying is that a vague 3 day IP is not something that an experienced management team of an intermediate E&P in Canada producing 18,500 boe/d should be press releasing. Remember that earlier in the release they gave bad news about not achieving their production guidance for Q3. How better to divert attention to that then to throw a large number for a new well out there that has produced for a whopping 3 days? When I see a big production number bragging about how much oil and liquids are being produced, but no oil cut %, I tend to be skeptical of the actual production. How much of that rate is frac water/load fluid being recovered and how much is actual reservoir production? Valid questions aren't they?

 

Releasing a 3 day IP rate just seems a little beneath a company like this. It is something that a tiny junior drilling their first well would do so that they could generate investor interest to raise more money to drill their second well. BXE is beyond this, they can see their share price rise by continually setting realistic production guidances and actually achieving them economically.