Celtic Exploration Ltd CEXJF

Resthaven

[raggetyjack]

No secret they were drilling there but they've picked up quite a large land position
from the press release. Encana is very active there now also and has 4 wells
on taps for drilling very soon along with current ones.

WOW nice open on the news....

[teevee]

raggetyjack,Perhaps the news was related to the land sale today?

[teevee]

I checked land sale results. Celtic must be using two or more agents to bid for them. 

[raggetyjack]

They all use land agents when they want to accumulate land without anyone knowing exactly who is doing all the buying. 438 sections is a lot of Resthaven at low prices. Perhaps 1/2 is good at 4 wells a section that's a lot of drilling inventory. Short covering drove up stock fast but NG is rebounding so the shorts left will get creamed if NG keeps rising from here. Encana is big in Resthaven

[teevee]

Yes, factoring in the Kaybob Duvernay play, Encana or Conoco could steal this company at half price around $30-$35. I would prefer to wait for drilling to build the value closer to $50-$60/share

[teevee]

Looking at the Nov presentation again, Resthaven could double the size (and hopefully share price) of CLT in 12 months!!!

[raggetyjack]

New 52 week high yet again today....Gas starting to pop hopefully the switch to NG for big trucks will kick into high gear and pupsome legs under these gas puppies...