GREY:CRVNF - Post by User
Post by
bluerangeron Dec 08, 2005 7:51pm
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Post# 9975791
From July. When the stock was $3.10 .
From July. When the stock was $3.10 .Find's release about an hour ago is nothing short of stellar. Just a few selected quotes:
"At present, the Company's production is estimated at 3,585 boe per day, comprised of 11.3 Mmcf per day of natural gas and 1,695 bbls per day of oil and NGL."
This is about 20% higher than the average for Q1 - terrific growth.
"Reserve additions during Q1 totalled 1,548 mboe proved and 2,003 mboe proved plus probable. The net present value of the proved plus probable reserve additions, using GLJ's estimate of future prices dated April 1, 2005 and a discount rate of 10 percent, is $36.3 million."
They added over $1.00 per share in reserves in ONE QUARTER!! Very impressive.
"Given the success of the first quarter 2005 drilling and completions program, approval was received to increase the capital expenditures budget for 2005 from $37 million to $60 million. "
That is a major increase in spending - shows the confidence they have in their prospects.
"The best well drilled to date at Pembina West, 0.38 net to Find, currently produces at approximately 5.5 Mmcf per day plus high rates of associated NGL."
5.5 Mmcf per day is a major well, over 900 boepd. They only have 38%, but this illustrates the potential of this area, where their core activities are.
This stock is poised to move significantly higher over the next six months. If you already own it, hold for at least $5.00. If you don't, climb aboard and enjoy the ride.
Valueman