Chinook Energy Inc. Common CNKEF

RE:RE:RE:Tax loss selling and CKE's stars

[bouquets]

Thanks.  Yes, I see.  I'm still keeping my powder dry for a few months, I think.  Here's the way I see the coming months: The last quarter (3Q) was pretty rough—interrupted production and low prices.  The coming quarter (4Q) will end with an impressive new number for exit production, but the cash flow will probably disappoint because only two wells are flowing for the quarter and they are restricted. The new compressor will mean that these two will flow unrestricted and the two new wells can be brought on-stream.  But this will only be for a few weeks, and although the pricing has improved, they're still not great.  So it seems to me that we should look for good news with the 1Q results which will come out in late April or early May. So I'm inclined to wait for Spring.  Do you see any reason to jump now rather than waiting?

stockfy wrote: Hi bouquets, it's 4 Montney wells (1,800 boepd each with 300 bbls/d Condensate each, according to the company's latest news) that will flow for the full quarter at normal unrestricted rates in Q1 2018. This fact will dramatically increase the production in Q1 2018. This fact coupled with higher oil, Condesate and natural gas prices in Q1 2018 than in Q3 2017 and Q4 2017 will boost quarterly cash flow in Q1 2018. This is what CKE told us based the latest news:


" Upon completion of the four new Birley/Umbach wells, the final 24 hour test rates per well averaged 1,800 boe/d including 300 bbl/d of condensate. Two of these wells (1.63 net) came on-stream at the beginning of October 2017; however, due to our existing 25 mmcf/d raw natural gas Birley/Umbach facility being full, these new wells are currently flowing at restricted rates."

and here it is again:


" Two (1.63 net) of the four (3.63 net) most recently drilled, completed and equipped Birley/Umbach wells are currently on restricted production as our existing 25 mmcf/d facility is producing at maximum capacity. On commissioning of this facility’s expanded capacity to 50 mmcf/d (net 41.76 mmcf/d) expected during the fourth quarter of 2017, these restrictions will be released and our remaining two (2.00 net) standing wells are expected to be brought on-stream bringing our exit production to our 2017 revised guidance of 6,300 – 6,500 boe/d."



Read the link:

https://globenewswire.com/news-release/2017/11/10/1179060/0/en/Chinook-Energy-Inc-Announces-Third-Quarter-2017-Results-and-Increased-Credit-Facility.html