GREY:STPJF - Post by User
Comment by
Eyeinvestoron Mar 17, 2014 1:41pm
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Post# 22332216
RE:RE:RE:Green on St. Patricks Day
RE:RE:RE:Green on St. Patricks DayI want to qualify my optimistic post this morning (when the stock was 19-20). I think this is very good news. The danger is if STP start thinking like Nike and do not take a strategic deal. .................................................................................................................... 2P1 is extremely good news. The most important aspect is that it shows the potential of the STP McKay project to a potential acquirer of a working interest. ........................................................................................................ 1P5 is not yet an unqualified success. If they have doubled oil production (and they only mention fluid production), then December's meager 50 bbl/d has risen to 100 bbl/d. Pad 2 wells producing 700 bbl/d and pad 1 wells at 150 bbl/d does not get us to the 7000 bbl/d target........................................................................................................... I think the best way to capitalize on the success of the ICDs on pad 2 is to convert that into a better offer from strategic partners. This project requires a LOT MORE CAPITAL to drill new well pads, all fitted with ICDs and the 2P1 result allows that to happen ................................................................................................................................................................... One swallow doesn't make a summer. We've seen two swallows now, and Im feeling pretty good but lets convert some of these swallows into a stronger balance sheet.