Twin Butte Energy Ltd TBTEF

RE:RE:RE:RE:RE:RE:TBE top pick on BNN

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Just to harken back to Bill Bonner's bullish (top pick) take on BNN last week consider the issues that TBE has experienced at Primate: The reduction in production at this southern most located heavy oil property has resulted in a loss of close to $345 million to TBE's market cap, a 20% decline in daily production, an almost certain downward revision to 2p booked reserves and a halving of the firm's capex to protect the balance sheet and dividend. So ask yourself why per the Daily Oil Patch Bulletin that TBE's only license application yesterday is to drill a 738 meter projected depth well at Primate targeting a Mannville pool? Investors are led to believe this property is a total write off and low and behold TBE is spending another $1 million or so to drill on this one time productive now nightmare reservoir. Why?