Arcan Resources Ltd ARNBF

RE: RE: RE: Thanks for the update avonbob

[nlr2]

I don't know what the pattern is that ARN drilled there Ethel wells in and I also shudder to assume anything positive about this company but I was listening to the PRY presentation from Miami today and they said that they will leave a producer on for a year till it pays out then convert it to an injector. Assuming that waterflood works at Ethel, big assumption but oh well, couldn't ARN just switch some older producers over? Same goes for Deer Mountain. Some of their wells are quite old and it wouldn't hurt production to much. PRY said that it costs between $150,000- 250,000 to convert a well to an injector which even for broke Arcan should be affordable. The other potential positive is with their lack of operations and pipelining work the efficiency per well should be much increased. It seemed like in the busy period they were tripping over themselves trying to get so much done that the existing wells were offline quite often that coupled with weather issues crippled production. Probably doesn't matter much but any good news, at all, would make a huge difference. Change the narrative a little. 

 

Thoughts? I may be totally wrong. Haha.