Pennant Energy Inc PENFF

This was supposed to be a tech play, not geo

[stateside]

According to Blackbird and Pennant, this was now a technology play (getting the drilling right) vs a geological play (trying to figure out where to drill).  They know the Montney is there...excellent holes all around without a miss.... Trican doing the frac and are well respected.  Can't wait to hear the reason for the miss if the well is as bad as the trading indicates it will be.  Remember, we have a history here with a leak on the first hole when PEN ran up over 75% a few days before the news.  This is not a shake down.....someone (same group as last year?) has the results in some form or fashion.  If this happens on the 3rd well, the exchange will be all over this trifecta of companies.  They may even start sniffing around now after this obvious leak but they are nothing short of incompetent so probably not.  The chain of command from the well to the newsroom MUST be improved.

 

stateside

[Titi]

Hi Stateside I am sure they will come up with an explanation. Believe me I am frustrated as you are, 'titi

[AlternativeView]

Well then: If this was only a technical play then we must assume it was a technical failure.  Lots of things can go wrong with a frac. My concern is with the well spacing / drainage radius (cylinder for horizontal wells).  Yingling talked about spacings of 4 wells per section, or 28 wells on their 7 sections of land.  Elsewhere there is discussion of the 2,744 meter horizontal leg