Bowood Energy Inc V.BWD

Plans

[nlr2]

So now that Legacy is doing two test wells will Bowood drill any independent wells like they had planned? I guess probably not since it would defeat the purpose of the deal. Legacy is very technically strong with internal drilling division which is a plus. Trent Yanko's previous company Mission was one of the companies responsible for making the Saskatchewan Bakken viable so hopefully he can do the same here. Another plus is Legacy has a large drilling program so it will be much easier for them to get service companies to come in a timely fashion then itwould have been for Bowood. With this deal Bowood has about 20 million in cash. Any ideas what we will try and do with it? Get more land if possible in Alberta Bakken, expand in Greater Armada, drill some 100% wells in the Alberta Bakken once Legacy proves it up or start a new core area? Any thoughts? I'm not entirely sure but I think the oil target near Armada is the Sawtooth which according to Surge is very viable as the wells do not require fraccing which lowers costs and removes a major bottleneck.

Also if the test wells hit why would Legacy not just pony up and take over the whole company? Why continue with the farm in program and pay the lion share of the costs for half interest when they could pay more upfront but have 100% control?

NLR

[baird66]

The wild card in all this is how much the Blood tribe will interfere with the drilling and completion operations. I have heard rumours that the natives have been reading the papers and watching the news regarding fracturing and are very concerned about what is being injected into their lands. This could create huge problems if they dictate the type of completions fluids that are used vs allowing

[403xyz1]

Those are good questions and the kind that should stimulate open dialogue. I think they will need some of the money to pay their share of the 2 wells. I don't know if LEG does the drilling, if this satisfies one of the 2? wells BWD is supposed to drill on the Blood Nations Land. I guess someone could call the IR department next week for clarification on this and also just ask what they

[nlr2]

I was just reading that as well on the Lethbridge Herald website. I think that since it is the chiefs that made the deal and have control their will be no formal interference. As far as the rank and file members of the band their will be cash payments made to each member of the nation which should help. I highly doubt they know the specific fluids involved, as its a trade secret from what I have

[moneymotivator]

very interesting NLR2 I will definetly have to take a peak on the technicals on this one as it all sounds very interesting, especially considering the companies close proximity to Crescent Point!Make More Money (Triple M)

[Sonny7]

Any thoughts of Blood interference and frac fluid dangers are pure nonsense. All is safe. Erase all negative thoughts on those ideas.Congrats to Dire Wolf for his zero response tactic in dealing with half-wits. It's a big relief to not have to read trashy answers to trash.

[OilandGas4]

Sonny has it bang on. The Blood Nations have accepted $14.128m up front to lease their land and $122k per year. They own approximately 5m shares. Why on earth would they even think to mess up with the agreement. They have made a boat load of cash to start, and have the ability now to make a fortune from their land that has done nothing for them for centuries.Believe me, they want Bowood and Legacy