Iron Brdg Res Inc. OEXFF

RE:RE:RE:RE:RE:RE:response - press release - (in summary - still upside)

[ditchdigger251]

Casperwy17 wrote:  "Where would they get the money for all of that capex?"

Everything depends on well performance.  If IBR's 80 stage typical Hz design is as economic as the more recent Velvet Hz's those wells will payout in well under a year.  That means short term financing and ever increasing funding coming from cashflow.  I think they have that kind of well performance and IBR is saying that they have access to the financing they need.  So they can develop multi-well pads and make large material gains in cashflow by doing just that at what I consider to be low risk.  I think in 18 months from now - the end of 2019 - that IBR's production will be in development mode and approaching 20,000 boeds.  Each well takes roughly 21 to 24 days to drill so pounding down 15 by then is easily achievable.

What's the hurry to sell to Velvet for not even a decent kiss on the cheek?  If you think a $0.75 offer is great guns then sell and move on 'cause that's all your going to get from the cheapskates.  It's the same story if it was a reverse takeover for paper - Velvet's never going to offer fair value to IBR shareholders so why hold out?  I get it that there's shareholders looking for quick gain and then go but they will be disappointed.  Looking to sell is not the way to attract a fair price.  A good price comes from playing hard to get by drilling and completing great Montney oil wells according to a hugely economic development plan and ever strengthening commodity prices in a tighter and tighter market.

One thing IBR did mention is that they have a "White Knight".  That to me means someone other than Velvet.  So potentially a deal will get done but it will be one where shareholder value isn't being given away.  Time will tell.