big addition to reserves yet, cheap stockmid year 2018 Beach says pel91 still has over 25 Million barrels 2P, with about 16 M 1P... this is nearly what the original OIP of Bauer was... years ago... and has it paid out for NWX! This also is prior to the announcement lately, they have an eastern extension to Bauer... with new wells producing up to 1500 bopd! Not at all a tired field as one dimwitty, petroexplorer once said... after the poor sod missed this winner. I mean, what have they paid out to shareholders so far ??... 25 or 30 cents a share paid out... WOW! this has been a great divy payer... now for the final act... Beach must bid for NWX... all NWX shareholders would be glad to get their share as they have seen the two execs take and take and take more than their share for years and that is getting to the point where we need to report these clowns to the regulators for investigation over what they have done here.
Now they still have plenty of room to run with Birkhead and McKinlay horizontal wells... these reservoirs seem to run through a very large amount of pel91. I expect further upside to the reserves going forward which might trigger the awaited hostile bid for NWX to get the GOR out of the hands of these two money grubbers and pay out the sharehlders that deserve the money....
Oh then there is the natgas... oh yeah... Beach is ramping up drilling for that too, gas prices are way better there than in Canada... so natgas makes good money.
ya simply have to own this 30 cent stock.
Did I forget to mention... they now have 7 cents a share in cash and are adding over a Million $'s a qtr to their cash hoard... soon they might pay out a nickle a share... unless the long awaited bid for the company comes in.