RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:WTI above $85Btw, Mr. Garg stressed that he is not an investment advisor and that everybody do their own dd. But he spoke highly of bte's Peaville Clearwater play stressing that not all Clearwater plays are of the same calibre of some of the wells in bte's Peaville.
He loves reef plays and talked positively about a beaten down, sp 65 cents, company called Razor. He says that they are gradually getting into financial shape again to develop their Kaybob reef play. He's hopeful that Razor management can pull it off.
He also talked about a recently acquired company Spartan Delta which he was big on. It was acquired by Crecent Point where a new company ended up being spun out as a result where the Sparta Delta people took the cash to create a new company called Logan recently listed. He loves their land position.
In summary he stressed that there's still a lot of "low hanging fruit" out there that was considered of little value ten years ago but advancements in technology have revealed their value in terms of net backs. Some of those wells producing 300, 400 bbl per day are paid for in 3,4 months of production because now they're so cheap to drill. He added that carbonate reef structure wells will see a high initial production rate but will drop off maybe 60% in a year or so but unlike sand, silt reservoirs will maintain production at lower levels for years.