Post by
rob926 on Oct 08, 2014 1:16pm
Speculation Survey
This is a follow up to my last post. I was surprised as well as excited to see that 3 drills are turning and another one is due soon. Freeport spent time drilling 1 hole at a time for over a year before they hit the first good hole. I believe the 10th one was the lucky one. Then they started adding more rigs. My speculation survey is for 3 scenarios I see for the fast rig count. Which one do you all think it is?
1) Freeport is going to get back to drilling in the first quarter next year and Reservoir needed to use the rigs before Freeport needs them. I am guessing that there are not an unlimited amount of rigs and workers hanging around.
2) Reservoir is in a hurry to test all known prospects ASAP because a discovery will support the stock. It also might stop our stock from being taken out at a cheap price.
3) Reservoir has hit copper with enough thickness and grade to warrant all the rigs.
Comment by
thorgb1 on Oct 08, 2014 1:34pm
I would think a combination of 1 & 2.