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Cubic Energy Inc. Message Board

  • upittbaseball upittbaseball Feb 21, 2010 9:33 PM Flag

    Newspapers, Billboards, Videos....

    Everything is pointing to Desota Parish as the sweet spot for activity. Everyone and their mother is focusing in Desoto. CHK has billboards stating their focus on Mansfield in Desoto. I drove through and there is so much activity as in wells, pipelines, etc. I drive through at like 4am and it's already busy. Guys, I get frustrated but I'm telling you we are in a sweet spot for one reason only... Our QBC land is in a Gold Mine and almost in the heart of this shale. More and more Energy consolidation is coming. DPTR is going to get bought out. I own about 2,500 shares. I also see XCO or GDP going soon and once the PR starts coming out about the wells and results we could be in position to break $2.00 a share. I just wish the company helped our cause with a telling the QBC story. New week, Will we get some news. My birthday is coming and I'll take a big pop on my 21k shares.

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    • cpb38....If in your opinion neither drilling results or resolving the Amex listing issue will overcome the overreaction against the stock, what do you think it'll take to move the stock toward some price that is representative of at least the value of the reserves as though they all remain unproven (even though the status of the Bethany Longstreet acreage is rapidly changing to proven status because of all the drilling by GDP and XCO)...say $.50/mcf (That's the upper end of Exco's range for unproven reserves versus their $2.00 to $2.50/mcf for proven reserves.) on 368.5 bcf, disregarding maybe another 200+ bcf in the Bossier shale?? That's about $2.00 a share on a fully diluted basis of 92.2 million shares outstanding after the new stock is issued. TIA.

      BTW, did you see this post?

      FWIW and JMHO.

    • You are correct. I have had to average down a bunch. I've done that before and made good money so I'm not all that worried. I'm not attacking anyone. My point was to know where you stand. Let's see how this plays out. I thought you were short and I wanted to know the cost basis and see who over the short and long term wins. This isn't an overnight game here but in a few months I like to think this will be $2+. The results that XCO and GDP have made public are very strong.

    • Upitt, I'm not sure if you are attacking me or Finco. I am long at 1.14, so I already got you beat. I agree with Finco 100% that everything is alrady known and fairly well priced in. QBC is cheap, but past well announcements have failed to move the move the stock with any permanent siginificance. AMEX relisting is not going to move the stock.
      You can talk yourself up all you want, but the bottom line is your next big move has yet to materialize, and you have had to average down. That is a fact.

    • Wouldn't be surprised at all to see this trade back down. There was a lot of volume pushing it down the last couple of weeks and not near the same volume (above 1.08) pushing it up.

      While I think this can eventually move higher, it might not be until after March.

      Everyone knows what QBC has and that QBC is drilling and should have resolution to the SEC issue by end of March.
      My guess, positive outcomes on these are expected and therefore somewhat already priced in.
      We might not see a real move until additional results are realized.
      Just being conservative / realistic and taking into consideration stocks (at least for me) never move up as quick as what I think they should.

    • Re this well, the following is from GDP's earnings release today:


      Bethany-Longstreet Field, Caddo and DeSoto Parishes, Louisiana. Â The Company has completed its Goodrich Petroleum Company - Fallon 18H-1 (59% WI) in the Bethany-Longstreet field with a 24-hour peak initial production rate of 21,200 Mcf per day on a 24/64 inch choke with 6,800 psi.""""

      21.2 mmcf/d IP on 24/64 choke! The Garland 25 well (reported previously) had an IP of 20.2 mmcf/d. Sounds like HS core area type results to me...JMHO.

      According to GDP's own earlier presentation, that makes both of these wells bigger than their "high case" assumptions for HS reserve EUR's, which was 8.5 bcf in wells with an 18.0 mmcf/d IP. No wonder they want to drill another one next to it and have 2 more drilling near the Garland 25 (That's in part of QBC's acreage, too).

      XCO, who is getting similar IP's (average of 22.8 mmcf/d) in the Haynesville core area is booking their reserves at 6.5 bcf EUR's per well, and said in the cc today that they were doing that for the purpose of being conservative on reserve estimates versus beliefs by some within the company that ultimate recoveries could be much higher. Notice that QBC's newest HS reserve estimate uses 6.5 bcf per well, too. Hmmmmmm... Mirroring XCO?...wasn't it 7.5 bcf per an RBC Richardson Barr report in the earlier QBC presentation??

      Any way...Looks like the Bethany-Longstreet acreage has a lot of NG, and I take both the GDP and XCO reports as good news for QBC.

      Those in the know...please feel free to set this straight, if not correct. TIA.

      FWIW and JMHO.

    • I'm obvious long, declare your position and lets see who the winner is here. I'm long 21k at avg 1.20. If you are short let me know the price. You obviously aren't here for the hell of it. Lay it on the line and lets see who comes out on top. Instead of just making fun of me put your moeny where your mouth is chief.

    • I'd say "relief" is a more fitting word... and hopefully, its the start of a bigger run to much higher territory. Join the party.

      FWIW and JMHO.

    • I don't think GDP has released anything about the Fallon 18 well yet, but they have permitted another well near it (Sec 18/14/15 per Sonrise). They're punching a lot of holes in their part of or near QBC's acreage. Must be for good reason. Can't tell now if QBC is participating in section 18, though....maybe its a coloring problem.

      FWIW and JMHO.

    • What news do you expect?

      • 1 Reply to cpb38
      • CPB38...Looking for news on several GDP wells that QBC is participating in, the Exco/QBC Red Oaks well, Amex resolution, more info about their operations/business plan, etc.

        BTW, the 8K out tonight is for their revised presentation, which does contain some good information and has a revision to include the WFC credit facility in their calculation of available liquidity for funding capex and operations (I was wondering where that was).

        JMHO....but looks like a greatly improved balance sheet with capability to fund the drilling program to prove up the reserves and boost cash flow..JMHO. Now we need some results of current drilling.

        Reserves..368.5 BCFE plus whatever is in the Bossier....

        FWIW and JMHO.

    • Thanks for the on-site input UPitt. I think you're right on point about that.

      There are still several newsworthy items that could come out at any time, and that should be just the beginning of news events as the drilling program advances. I guess the one that will move the stock most right now...short of a the Amex clearance.

      FWIW and JMHO.

0.010.00(-8.26%)Jul 31 3:57 PMEDT