Pennant Energy Inc PENFF

You guys don't get it!

[xdmmdx3]

Right there in black and white in the news release:

"The 15-32 well is currently flowing natural gas, natural gas liquids and
hydraulic fracture fluids undergoing clean up operations after completion
of the 23 stage hydraulic fracture operation. During the hydraulic
fracture operation 460 tons of fracture propant and fluids were placed.
However, mechanical complications were encountered that have limited the
number of stages that the operator can definitively say was successful.
The final 5 stages were clearly successfully completed with 120 tons of
propant and fracture fluids placed."

So 5/23 = 22% of what we were hoping for...maybe 25% if we are lucky.  Anything above that is gravy and shouldn't be expected.

 

Good luck to all,

 

x

[wintersun10]

perhaps a stupid question, but they drilled the hole in the ground, first time fraccing failed, what is stopping them from fraccing twice? or three times for that matter?

[xdmmdx3]

Wintersun10: "perhaps a stupid question, but they drilled the hole in the ground, first time fraccing failed, what is stopping them from fraccing twice? or three times for that matter?"   Obviously I don't know this answer, but one could assume there was damage done (casing or otherwise), and they would have to re-enter from a different point if they wanted to be able to

[gninnam]

I have been a long on Pen but I sold my last shares today. With the current failure and the number of shares os i do not see an upside.   Good luck to all  

[Oil100bucks]

Your reading it wrong!! Right there in black and white in the news release: "The 15-32 well is currently flowing natural gas, natural gas liquids and hydraulic fracture fluids undergoing clean up operations after completion of the 23 stage hydraulic fracture operation. During the hydraulic fracture operation 460 tons of fracture propant and fluids were placed. However, mechanical

[xdmmdx3]

gninnam: "I have been a long on Pen but I sold my last shares today. With the current failure and the number of shares os i do not see an upside."   If the horses ran out of your barn, would you close the gate after they left?  The time to sell was before the news, as I stated earlier.  The damage is done, both to the well, and the stock price.  Selling now makes no