Post by
venture009 on Sep 01, 2024 4:12pm
Direction
This company doesn't appear to have anyone steering the ship. In 2015 after 9 years they decided to explore the possibilities of Sawn Lake with a SAGD battery and had success producing 700 bbls/d with a very acceptable steam oil ration of 2.4. The problem was they did this at the end of a commodity/oil boom and prices immediately started to drop making the Sawn Lake and many other oil producing properties uneconomical, resulting in Sawn Lake being shut in. If they don't manage to do something over the next 45 days, max, then I suspect they are going to experience the same outcome.. Of course if the war in the middle east expands then they will have more time to do something. Still they have had amble time to get something done, so what's the hold up? Looking at level 2 there is a huge amount of shares availabke for purchase.