Post by
drunk@noon on Nov 10, 2024 11:00am
shareprice has done nothing with all the hyping they have
done in terms of implying they are very happy with what they've seen from the new wells. Also of note they have yet to release q3 results, which I'm sure will show some scary bad flow rates from exising wells. These guys deseve no trust. Like what about Coho---which was hpyed to have two wells producing 10-15 mmcf/d each. What do we have? One producing something in the 2 to 3 mmcf range. And then theree are these existing oilly legacy wells. What kind of cra-pollo is this? What kind of cap ex is involved to produce this dribble of oil. What kind of return on investment are you getting on these. What's it costing you to produce this oil. I would be surprised if it isn't losing them money. And yet they talk like Coho and oil legacy is additive to operations. As far as the 2 new wells. It sounds like the second is going to be disappointing as they are talking about the next one they drill being in a better position, and then there's this watery/oily zone. You know that will go by the way of their latest greatest oil find. I still own some shares, as if they can only get some half decent resutls and hype it, we can get a 20 cent bounce so I can sell. But just when you think the downside is limited, they always find a way to prove me wrong.
Management is d1rt.