OTCPK:ARNBF - Post by User
Comment by
hardeeharon Jan 22, 2013 11:46pm
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Post# 20875676
RE: drillbit news to come
RE: drillbit news to come The issue with farm-ins is all prod rev goes to PBN until the well is payed out or even longer according to the terms of the farm out agreement. I suspect that it will take a few months at least before Arcan sees any revenue from the farm out wells, and it will be only 48% of production when they do.
The real near-term growth catalysts IMO are the 17 well recompletions they have identified at Ethel which they said are showing encouraging initial results, and the water flood response at DM2 which is almost 2 months more along now than what is showing in the presentation (Nov 30).
Something is going right and Whatever it is I sure hope that they can keep it up.