Iron Brdg Res Inc. OEXFF

RE:End of the road.

[ditchdigger251]

Hey foothillsdd, I'm still in.  I wish IBR had a couple of inches of breathing room...I knew they couldn't p iss around with those new Hz's and that's just what they did.  Not a huge sin by any means - they did do some things very right like upsizing the surface infrastructure and water handling but a few things that they needed to do more right they didn't.  When they frac'd those 80 stage wells with 60 tonnes/stage I wasn't happy since I knew that would add water production from the more permeable upper Montney (where it's almost like a silty sand instead of the finer silt deeper in the interval).  Given that those 8-21 Hz's were the hail Mary's less water would have meant full on production - they should have imo cut the frac size in half to restrict height growth and added more stages.  Remember me saying it's all about proving up the P+P type curve?  That was the only job that mattered, economics-wise, and that's where IBR got caught naval gazing.  If those wells had 90 days of type curve beating prod'n history by the start of September we wouldn't be in this spot.  There was just to much fooling around, extra costs like the sand cleanouts (which could have been solved by tailing in 5 tonne of resin coat at the end of each stage for example) and lack of quick robust production growth.  So the bird in hand wins.

I'm looking at some other companies now.  if anyone has some ideas they think are good I'd really appreciate hearing about them.  I really enjoyed this board - there were some great people here.  Take care All and Goodnight IBR!