Arcan Resources Ltd ARNBF

RE: RE: RE: New Low...

[hardeehar]

I didn't say it failed.  I said it 'missed the mark' meaning that his timing was off as to when he expected it to show a greater response.  I remember Doug Penner at the AGM saying that historically DM2 had over 4 million bbls of oil extracted from it and implied that waterflooding will have to displace that same amount of oil before it shows any meaningful response.  I don't know anything about waterflooding, but replacing 4 million bbls of oil in that field with 4 million bbls of water seems like it would take a long time IMO.

I still am holding out hope Ed Gilmet's original plan will eventually pan out, but time is running out for Arcan.

A combination of declining production, no drilling, delaying fracturing, excessive debt and spending cuts are a recipe for some catastrophic casserole!