Quattro Exploration and Production Ltd QEXXF

this is real

[coffeeguy331]

the info in press release does not have Q1 info in it. This PR eliminates some of the proforma work that can now be viewed as "real". It solidified the truth. Can't wait for Q1. Should be a fun run.

[elgaveeno]

Math in thier 51-101 is wrong. Reserves are based on wrong bookings. Do your homework. Go to Sedar and look at the 101F1. Reserves are overstated by more than 17%. Read page 10,  NGL #s are all wrong, then get booked into Oil catagory on page 11. Over $9.3M in value goes away. 208 active wells. Very sloppy and suprising that no one caught it. 77% weighted to gas. No inclusion of F&D into

[rknigh2]

How are the NGL values wrong? The current plan is not F&D cost heavy - increasing production mostly through remediation and reactivation. Management mentioned they will be releasing updates soon for the drilling program. I'm looking forward to seeing that as well as the "true" Q1 production and netbacks.

[elgaveeno]

The company has not provided on Sedar thier NI51-101 for all of their properties. They have only provided summary documents. The NI51-101 would show the real value of the assets as it includes all future development costs. As far as I can tell this set of documents does not include that. OK. For you slow ones... Gross and Net. Gross is the whole number, Net is a portion of the Gross. Net can only

[rizac]

After reviewing the F1. I conclude that the NGL number is in the wrong units and probably rounded up. It's a typo in populating the table. These tables are generated by computers and there must have been a glitch. It doesn't effect anything else. The second table illustrates this fact. In addition, be aware there is a situation where the Net numbers do increase. This is where Gross

[elgaveeno]

The table does not go around, and I fear you don't have the ablilty to calculate that, so I will try to help you out. The Oil and Gas Reserve Summary is intended to show the total reserves for the company broken down into categories. All those reserves, broken out (7 catagories gross and net)), should then be reflected in the Unit Value of Net Reserves by Prodction Group table. Lets go to that

[rizac]

The tables are templates.  This is done to ensure 51-101 compliance and standardization. CBM has no NGL's - Dry gas, usually methane only.  I don't see where the NGL numbers are Identical to PDNP or PUD. I looked at both tables closely. No question the Summary Table has two things wrong with it.  1. it's missing the gas associated with the oil reserves (1P=2454.7, and

[elgaveeno]

 I am sure you looked at both tables closely, you need to know what you are looking for. All the reserves of the corporation should be accounted for in the Oil and Gas Reserve Summary. You state that this summary excludes associated gas reserves (from oil production(1P=2454.7 and 2P 3578.3)). First, where did you get that data? Second those numbers explicitly should be inlcuded in the

[rizac]

Awe I see.  Well we already know that the NGL numbers in the Summary table are wrong.  We also know that the Net number has to be lower than the gross number.  There is no conversion here it's just an input error some how.  I don't believe it's an inflate just a table population error. I never agreed the Unit table is wrong.  I think it is right. 

[Brunswick200]

Why would elgaveeno, who professes not to have a position in QXP, be on this bullboard? Trying to talk the stock down to pick up some cheap stock? For someone who said "run, don't walk", he is spending quite a bit of effort, and a verbose one at that, on this bullboard.

[kenquach]

I agreed , I don't think you can short this stock unless you want to pick up some cheap shares.