Took an initial position today.....In order to diversify alittle, as have everything in YGR and CJ i took the plung on alittle IPO.
IPO management team is just so good at drilling wells...done at a cheap cost and f*ck do they produce. BNE has land near IPO and IPO always has stronger wells...better completion design.
The one strange thing is my buys today did not show on the canadian exchange volumes.
Anyways the the three fall wells IPO drilled produced this for oil in January:
| 311.9799 |
| 310.3569 |
| 309.0585 |
Thats barrels of oil per day....f*ckin fantastic....
Think how fast those wells will payback....
IPO is going to have to raise their capital budget and do more wells if oil prices hold.
I am investing on this management team...I know IPO's warts but this looks really good.