Based on last years 3rd Qtr calendar, I'm projecting DEJ will provide notice on Mon. Nov 5 that they will release the 2012 3rd Qtr results on Mon. Nov 12 prior to market open with subsequent conference call that same day. Since we have not had an interim up-date, I'm not as positive as I was a month ago...i.e. no up-date on Woodrush production, Koko, So. Rangely,J.V. Partner or financing. If results are scheduled for a Friday, after market close, that would not bode well. While I believe DEJ is good for the long term, and has good management, I wish they were more forthright in keeping shareholders advised.
Woodrush production should be generating much higher revenue, Q4 I believe will show this, because of this difference. AECO gas spot prices are higher or about on par with Henry Hub and Edmonton par oil prices are higher than WTI. Currently Edmonton par oil is at ~$95 per barrel and AECO gas price is 3.085 Canadian dollars per gigajoule or approximately $3.40 per mcf. Therefore if these prices hold up for the quarter and production is at 50% oil, DEJ would realize a price of about $60/BOE, much higher than Q2 which saw a realized price of $47.88 yet almost showed a profit.
Note: This calculation does not include NGL which would boost the realized price higher. I am not really sure how much of Woodrush production is NGL.
Q3 is a mystery because if you look at Edmonton par oil in July it was as low as $73 per barrel and gas was as low as C$1.75/ GJ but in Sept it rose to as high as $94 per barrel oil and C$3.19 / GJ thus making a forecast on Woodrush revenues difficult, not to mention the uncertainty regarding how much production there actually was. June saw 630 BOE yet our last presentation said 527 BOE and that was Sept.