GREY:ROAOF - Post by User
Comment by
nlr2on Feb 04, 2015 11:02pm
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Post# 23397833
RE:RE:RE:RE:RE:ah ha
RE:RE:RE:RE:RE:ah haI had to bail today. The well results were much worse than I had expected. The type curve for these wells to be economic, according to Torc anyways, has an IP30 of 600 boe/d. So when both wells together don't add up to this there is a serious issue. They clearly don't have as good of understanding, or the sweet spot of the play, as Torc. In a normal oil market I would have maybe rode it out.
The larger issue is with the shortfall in production the debt levels become a real concern. So for me, and for peace of mind, I bailed. I will still actively follow the company, as I'm interested to see what sort of drilling plan they cobble together to met their drilling obligation in 2015.
Good luck to everyone who continues to hold.