Iron Brdg Res Inc. OEXFF

Here are a few notebale items from todays pr:

[kukaman]

• Established a net asset value at December 31, 2017 of $1.25 per share (proved plus probable discounted at 10%).
• For the fourth quarter of 2017, the Company produced 1,946 boe/d on average from its Elmworth/Gold Creek Montney asset (28% light oil and NGL’s), reflecting a 38% increase over the 1,410 boe/d produced in the third quarter of 2017.
• These two wells are expected to be tied-in and producing in mid-April 2018 through IBR’s 2-23 Facility.
• Cryptocurrency mining equipment and a fit-for-purpose containerized facility is expected to be powered-up and operational after spring break-up. A limited amount of mining is ongoing currently in the Company’s existing facilities. Meanwhile, discussions are ongoing with a number of parties with regard to hosting third-party mining equipment. These opportunities would allow Iron Bridge to sell power without exposure to mining equipment capital costs thereby increasing natural gas netbacks.  The Company will provide progress updates as they become available.
• In the fourth quarter, the Disposition Assets net operating costs were approximately $14.40/boe, as compared to $9.48/boe at Elmworth/Gold Creek. Compressor maintenance start-up costs along with a workover operation conducted on a legacy Gold Creek well in the fourth quarter resulted in a higher than normal cost profile at Elmworth/Gold Creek. However, for the month of December 2017, net operating costs for the Elmworth/Gold Creek field were approximately $8.30/boe. The Company’s transition to a geographically concentrated, Montney-focused play with a lower operating cost structure is expected to result in lower reported net operating expenses prospectively.