Post by
kavern23 on Apr 30, 2024 6:21pm
Q1 thoughts
It came it quite good as expected.
I had 2495 for oil and close. CF was 22m as expected. Capex was 16m but YGR did 2 more bellys and YGR has higher working interest on wells than I thought on the 4 pad 1 milers.
If YGR drilled 8 wells and 5.5 net...doesnt that mean YGR has 2.5 net of the 4 well pad as 1 net goes out of 2 boomers.
Petroninja has an error saying the 2 chamber wells on production in March are cardiums.
THey were orginally licensed as cardiums and if you look into details...YGR amended them to Bellys.
Great news as Bellys last way longer on oil versus cardium.
YGR oil should be good for April as 2 bellys going for a full month plus 4 well pad will contribute.
Balancesheet looks very solid...one of few juniors I have seen with a working capital surplus and not deficit..f'in rare too see lol.
Also noted the bank isnt requiring 5m q payments anymore. Perhaps YGR is leaving room to do a land buy in dip of the cycle. YGR histroically has used bottom of the cycle to buy cheap land.
On right track.
Comment by
kavern23 on Apr 30, 2024 9:19pm
15m fcf should be doable...spend 6m and drill 3 belly's in June but complete them like July 1 and just have to cf 21m. And for q3 would have some new oil production ready.