GREY:ROAOF - Post by User
Post by
CaptainBigDaddyon Dec 16, 2014 11:55am
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Post# 23235797
Torc Continuing to Drill at Monarch for 2015 --
Torc Continuing to Drill at Monarch for 2015 -- News release from Torc earlier today:
2015 Budget Highlights
TORC plans to drill 15 gross (12.8 net) wells across the Company’s land position in the Cardium. With more than 290 net undrilled light oil focused development locations identified, the 2015 budget represents approximately 5% of this high quality development drilling inventory. TORC’s development plans for the Cardium trend represents approximately 50% of the Company’s drilling, completion and tie-in activity in 2015.
At Monarch, TORC’s initial plans are to drill 3 gross (3 net) development wells to continue to advance this large emerging resource play. TORC has exposure to over 150 net prospective sections in the Monarch play. Monarch will comprise approximately 20% of the Company’s 2015 drilling, completion and tie-in capital budget.
If Torc is continuing to drill at Monarch for 2015 - drililng another 3 wells - same as in 2014 -- in this horrible environment -- putting 20% of its budget into this area - not backing off CAPEX here - then I am very optimistic about LGX and its wells and lands in the same area.
Just look at the TORC investor presentation, where they also highlight the LGX wells in the same over pressured field.
Worst case scenario - Torc buys - for stock or cash - LGX at this price....
Maybe we become Torc shareholders at some point.
I am not selling.
Torc seems to know what is there - even if LGX is not currently saying.