Iron Brdg Res Inc. OEXFF

RE:ditchdigger

[ditchdigger251]

Absolutely take everything I say with a grain of salt on this forum.  I maintain that everything I've shared has been done with the intent to present a balanced and realistic perspective on IBR's value potential using my professional experience and knowedge based on publically known information.  Is that "wildly optimistic" or "not really realistic"?  Time will tell.  But if IBR's new 80 stage well design pans out with volumes anything like their last two wells, or Velvet and Hammerhead's recent drills there will be a clear path for highly economic development.  I haven't included a development risk with my assessement but given the large number of good offset oil wells to IBR's land as well as IBR's successful last two wells have, in my opinion, significantly decreased that risk.  I also give no value to a second 250 well development layer on IBR's land.  That doesn't mean to say that some portion of the land isn't good enough to justify a second layer but there's no nearby production history from a higher layer to use as proof - although it looks like Hammerhead's now trying a couple of Hz's  to test the concept.

IBR's April Investor Presentation outlines development Phases 1 to 3 - I'm hoping that IBR will start putting timelines and drilling plans to flesh that out for investors in the near future.  Shareholders and analysts knowimg more specific plans will definitely help better estimate potential future value.

I've looked at the IBR development map from their Nov 2017 presentation and reviewed it carefully.  They show ~250 "single layer" development locations with an average lateral length of 2400m (I've discussed this in detail here previously).  Most of those wells are drilled from multi-well pads and nothing except for a handful of sections have long pipeline tie-ins.  So I don't buy the "too fragmented to be able to be developed efficiently" viewpoint.  I think it's absolutely executable in an efficient manner.  Sure, IBR could swap or pool sections with Velvet to make certain parts of their land more blocky to optimize well pads but also they can drill North-South or East-West lateral orientations to maximize reserve drainage of the present land configuration.  

Anyways I'm bullsih and long on IBR and believe a great deal in the quality of their Elmworth Montney lands.  But there's no sin in taking exception to my opinions.  Debate is a good thing to expose flaws in thinking and I certainly can be wrong so please feel free to poke holes and criticize.  Maybe it will lead to some good questions to ask IBR.