Pennant Energy Inc PENFF

What a joke ..........................

[stateside]

This was known about a month ago yet no one bothered telling anyone until Blackbird fesses up today.  No news until July now.  Incompetence reigns supreme!

stateside

 

Blackbird's Montney well delayed due to road bans

2012-05-10 09:10 ET - News Release

 

Mr. Doren Quinton reports

BLACKBIRD ENERGY INC. PROVIDES BIGSTONE DRILLING AND OPERATIONS UPDATE

Blackbird Energy Inc. has provided the following update on its Bigstone, highly liquids-rich natural gas resource project.

The fracing and completion operations planned for our recently drilled, Montney "Extended Reach" horizontal well 00/13-33-060-22W5/0, have been delayed due to the annual spring break-up imposed road-bans which were activated during the second week of April. Movement of heavy equipment over secondary road systems in foothills areas, such as those required to access the Bigstone field, is restricted during the wet, spring thaw period to minimize road damage. Duration and extent of active road-bans are variable, typically ending during late May to mid-June, contingent upon weather conditions. As soon as practicable, after road bans are removed, in accordance with the "Cross-Conveyed Pooling and Participation Agreement" the operator will commence the completion phase of the operations. The well is equipped with liner and packer assembly configuration which will provide the ability to conduct up to 27 frac stages. Blackbird holds an undivided 12.5% pooled interest in the Pooled Lands and is participating as to a 12.5% working interest in the drilling and completion of the 13-33-060-22W5 well.

As stated in our April 10, 2012 press release, construction of the surface production facilities and 1.6 mile, 8 inch pipeline to the Delphi operated gas gathering system has been completed and ready for production. The gas gathering plant through which our production will be processed, is scheduled for major plant turnaround maintenance operations and may take up to 6 weeks or to the end of June, delaying our previous estimated start-up date to sometime during the latter part of June.

[stateside]

Hopefully every one followed Canaccord again and sold out last month.  Remember how they knew the results prior to everyone else on the last two wells?  Since April 10th (2nd week of April) when the PR says Blackbird got word on the roadbans, Canaccord has sold 1.6 million shares and bought 28,000 shares.  We now have a 3 for 3 winner here folks.  Congats to Canaccord for the

[wintersun10]

big surprise, spring break in the spring, who could have guessed?

[stateside]

big surprise, spring break in the spring, who could have guessed? I guess those "drill results anytime" has nopw become "drill results in 2 months" LOL.   stateside

[WorldlyTrader]

    This is like saying, "The dog ate my homework."   The trifecta never fails to disapoint with disppointment.  It is all a constant let down.      I think the only profitable strategy as crazy as it might seem is to keep buying at these levels.  You could play Cannacord at its own game.   A contrarian approach might work,

[stateside]

I like that strategy!   stateside

[wintersun10]

you cannot say Canaccord knew the results since there are no results, perhaps they knew about the spring break......but sell because of the spring break? so, the theory about Canaccord should be debunked by now.

[Titi]

hI stateside Don,t get upset. I think another PP coming up I would not trust anybody at this time titi

[stateside]

Tell all of your Canaccord co-workers I said hi. LOL stateside

[Titi]

Hi Wintersun I am just wondering when you will have the guts to let it go. You allways stand up and the waves are going over your head. If you are upset with my cmments jus put me on the ignore department. Have a good day titi

[wintersun10]

i wasn't talking to you titi, unless you are statesides double, stateside not everybody is going to drink your coolaid, bye

[stateside]

Sorry Wintersun....if you are going to try and exonerate whoever is trading through Canaccord based on some spring break-up excuse, the love affair with Canaccord has impaired your thinking.  It was blatantly obvious that they had the news leaked to them or somehow they found out the results prior to the public release from the first 2 wells (I can document the panic buying and then panic

[wintersun10]

there is no logic in your argument, why would anybody sell for a delay?, they are not selling for poor results as there are no results, that we know, all we know for sure somebody is selling.......could be any reason, what about the buyers? what do they know? some are insiders, what does that tell you? might be a good plan to collect the shares Canaccord is tossing overboard. why only sell PEN