Traverse Energy Ltd TVETF

2nd quarter results.

[Theconsortman]

No commentary on the second quarter results. Does not look good. I know hindsight is 20/20 but why did they choose to drill their one shot Duvernay well so far away from where the other Duvernay wells are? It was quite a step out and risky considering there was only enough cash to drill just one.

[mike49]

The location was center of the chigwell holdings and not that far from artis and rrx. Tvl used existing pilot hole and had,I assume,some legacy data.when you're throwing lawn darts,why not? If they had succeeded,even modestly,the value of that acreage would have increased dramatically. even then tvl wouldn't have been able to exploit the field which is where they find themselves today with

[Theconsortman]

Fair enough. Full disclosure I dont own TVL but am watching. Their drill was 18 miles from RRX and the Vesta wells. No idea where the inplay well is...It seemed like quite a step out and the mangement seems to be smart geos so it looked a little strange. Anyhow has this setback staggered them for good or will they recover?

[Wildstar82]

In May, 81,920ac were sold in West Duvernay for $33.6mil, which is $410 an acre. I'm not sure how close this land is to the land owned by TVL, but if TVL could get that kind of price for their land it would really boost the share price.

[mike49]

Inplay well is near tvl's buffalo lake holdings (twining).you are right-vesta is closer to tvl and artis further south.my point about ipo well is that,imo,if they have less than decent results,this play is best left to the big guys or those already deep into the learning curve. I think they can recover but there is so much stuff for sale or in banko near all of their core areas and lawsuits

[mike49]

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[mike49]

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