before it's to late I do not think that much drilling was going on this winter. They parked the rigs to try and build up cash.
They do not have any other option. The line of credit is maxed out and share price is too low to raise equity cash. They must hold off the bank and drill with cash generated from production only.
They may have one or 2 wells that we drilled early on and may have hooked up to the pipe line but I think that would be it. I predict that production will come in around 1000 to 1100 boed. With one or 2 100boed wells tied in but decline rates being high will bring overall product down. Bottom line they need to drill a wildcat well that can change the dynamic of the company. Use the 3d seismic and the land that got us into this mess to get us out . Spending money infill drilling to add 100 boed to production does not even cover decline rates and will result is a slow death. This is what we are seeing. Come on management grow some and step out to a big target and see if we can changes things up. Is this reckless? Yes if we were not desperate but we are and I would rather go down swinging than slowing dyeing with no hope. IF we stike out so be it and then sell at that point.