Kelt Approached the Problem with a different ObjectiveI like what Kelt is doing, and i feel that in proving out Pipestone, they could of drilled it in a more production efficient manner, however they really want to prove up the resouce.
Their objective is not to get the maxium returns short term like other companies but in the long term.
In fact their last two quarter have been a little wonky from an operational perspective, shutting in gas, and under performing a bit.
However i think there is just more behind pipe right now, and we might get a bit of surprize in Q4.
Also there hedges look good in these market conditions, i expect a great reserves report, and in a year from now with more plant capacity off to the races.
Their getting great results everywhere, now if they drill a few more production orientated pads, production will ramp up quickly.
Kelt is highly undervalued, and producting 30,000 boe a day with zero debt, they are off to the races.
IMHO