RE:RE:RE:Saskatchewan DrillingI thought Bonanza Rig #4 would be spending some time in Saskatchewan. I was wrong. Rig #4 has returned to Alberta. It will be working about 14 miles west south west of the very successful wells that Lycos drilled earlier this year in the Wildmere field. Two of those earlier Wildmere wells had IP30 rates of 400 boe/d. A few more of those would be nice.
The new surface location is at LSD 06-02-048-08 W4. One look at the map makes it easy to see that Lycos is using some of their unique multi-lateral drilling techniques in this area. This is also an area of Alberta that has not been over drilled.
I agree that their stock market performance recently does not give Lycos any credit for their recent drilling results and increases in production. It is hard for small and thinly traded oil companies to get noticed. Morningstar no longer lists Ninepoint Partners as the largest investor in Lycos. If Ninepoint is out, that would explain why there has been an overhang on this stock. Stockhouse is slower to update ownership information.
https://www.morningstar.ca/ca/report/stocks/ownership.aspx?t=0P0001QKG6&lang=en-CA https://i.imgur.com/PX3sKZN.png 