Petroglobe Inc. PTGBF

Financials filed on sedar

[smithgee]

... here is the outlook section.

OUTLOOK
This section of the MD&A presents plans and expectations of the Company shaped by Management's view of how future events may unfold. Please refer to the disclaimer Advisories – Forward Looking Statements located at the beginning of this MD&A.

During the third quarter of 2011 the Company plans to tie-in the natural gas associated with its horizontal Cardium oil well at Edson, Alberta which suffered a mechanical failure earlier in this year. The well was flowing back fracture fluid, formation oil and natural gas prior to shut-in. Additionally, the Company will continue to pursue the drilling of additional Cardium wells and preparations for a Slave Point well at Red Earth

[uograd]

Pretty pathetic but about what was expected.  Capital deficiency of about $3,500,000 or so and in breach of bank covenants and still have to spend another 1,000,000 or so to hit flow through number.  Q2 was a complete writeoff as they did nothing so there will  be further decreases in production for the quarter.gave absolutely no update or guidance other than a little boilerplate