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Bullboard - Stock Discussion Forum FORENT ENERGY LTD. V.FEN

"Forent Energy Ltd is an oil and gas exploration, development and production company with mineral rights holdings, reserves, and production in Alberta, Canada. The company does a production of oil reserves through development drilling on three core properties in south-central Alberta; Twining, Provost, and Wayne. The majority of Forent’s production is generated from these properties. The firm... see more

TSXV:FEN - Post Discussion

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Post by BayStreetVic on Nov 27, 2014 10:09am

*Fail*

A first glance, a total fail.. correct me if I'm wrong but those 3 infill wells added about 16bbls per day each? WTF? Is that all these VP's have to show for themselves? This is turning onto a S*** Show. Sponsored by Brett W Wilson. I also question the leadership of RW, almost 2 years at the wheel and has done absolutely nothing in terms of adding any shareholder value what so ever. Disappointing to say the least. Also, another winter, another round of FEN begging for a dance partner for Monty... and another 52week low. Well done guys :/ but hey, at least the cheques keep clearing..right? Next up, financing for more of these HOME RUN infill wells... Pitiful..
Comment by Backwardblade on Nov 27, 2014 12:35pm
Agreed! Not even 16 each as it noted that one has been shut in, so divide the difference between the two.  This was always a pipe dream play on my part though.  What I find dissapointing is that they now have 5.0 mil drawn on the 7 mil credit facility, AND no partner going forward.  Don't like the debt in this environment.  An irrelevent factor for a small company with the ...more  
Comment by longshoot on Nov 27, 2014 1:00pm
Q2 2014 increased significantly, averaging 172 BOEd compared with 54 BOEd in Q2 2013. With the recent drilling of 3 wells in the Twining field the Company's total field estimated current production is 276 BOEd. Q3 2014 HIGHLIGHTS Third quarter production averaged 221 boe per day, an increase of 28% over the second quarter   the new wells have stabilized and the Company's ...more