Video updates and IR Chat !MA and team have stepped up the development timeline to drilling 1 well in Columbia every month till the end of the year.........
This represents their conservative production estimate of 350 B/day X 9 wells = 3150 b/day of additional production.............plus present 1300.............so 4450 B/day by year end !
Plus or minus 500 barrels/day from this number is still huge.................and surpasses previous plan by 50 %
In speaking with IR, they are ramping up as a result of being able to obtain a more serious commitment from the contract drill team.............and are anxious to capitalize on strong energy prices ............Free cashflow at 90 brent is $60/barrel..............this is wild !!!
4000 b/day X 60 = $240,000 day and $7.2 million per month........by year end.....simple back of the envelope math.........difficult to ignore !!
Wells cost 2.5 million to drill and tie in.............payback approximately 4 to 6 months
Market wise.............we are in a show me mode, as others have mentioned, previous operators made a royal mess of this company..............I still see many shares hitting the bid with odd lots attached............indicative of the lingering bad smell of the roll back done a few years ago !
The new chart in London has a nice upward bias and some volume starting to pick up !
IR kicking off and next interview with CRUX investor should be out any day !
Patiently............Long and strong...........Gamer !