Has everyone noticed how BShaef will post almost immediately to anything positive said about IFNY (and always in a condesending and argumentive way) and yet he still can't answer the question that was asked of him.
HEY BSHAEF, WHAT IS YOUR CURRENT INVESTMENT IN IFNY? LONG OR SHORT? WHEN DID YOU MAKE YOUR INVESTMENT?
I've decided not to debate any longer with him until he answers the question.
It's funny how I was going to reply to BShaef's post and then I read yours and it was virtually the same. Funny, huh?
When Terax was having its problems with H2S in late 2005 or 2006, I asked someone whether IFNY had seen the same thing or whether it was not a problem on their acreage. They said that H2S problem was only a problem if you didn't understood the underlying bacteriological issue, which they didn't think Terax did based on what Terax wrote in a press release at the time. It was surprising to them at the time that Terax would reveal its ignorance in a press release.
There was also surprise since all Terax probably had to do was to ask IFNY what to do or to make of it, but they bullheadedly refused to collaborate. You will recall that Terax also refused to put what little gas they had into IFNY's pipeline and decided to build their own until they realized they didn't do their planning right and abandoned it. You will recall that Terax failed to pay their bills later on.
The combination of those events, along with no 3-D seismic caused Terax to go bye-bye - although someone certainly thinks their land is worth something given the recent takeover...
They were a comedy of errors and I think you/BShaef and a few other bashers/aliases on this board, as well as the former management of Terax, are somehow affiliated with the suitor in the failed 2003 M&A. It is funny that you seem pretty familiar with the H2S problem... I guess former Terax employees/supporters would probably know all about it after the fact. I am sure BShaef/you will rush to defend Terax since you were touting that failed investment on this board and I am not sure that there isn't a little bit of liability for BShaef/you/et al from anybody here who lost money on Terax based on your recommendation. They could then find out who you are and whether you have any affiliation with Terax or the former suitor, or both.
Also, given the above, what is your basis for stating: "IFNY not being technically savvy enough to put biocide in their slickwater". I know that they do it based on specific inquiry on the subject. So I'd ask you what your source is for your information? Why would they stop doing it? If you're right, and they stopped doing it to save a few bucks, then I think you are on to something negative.
Makes no sense, unless you are a basher looking desperately to weave a bogus story to post on a message board and mislead other investors for your own gain. It doesn't matter. Rumors and lies and other hyperbole won't move the price up or down for IFNY. The stock will drift until results are disseminated and analyzed.
I too am eagerly awaiting the results of the new wells - more so than you, I'm afraid.
"Care to comment on that, dipsht?"
eh? Pardon me? Dpsht? You can't be serious? Don't get pissed at us. IFNY is a 2-bit, half-@$$ company who doesn't know when to cut bait, and you resort to name calling, huh? Niiiice.
Regardless of your personal inadequacies, elino66, it would all seem to gel together, Terax getting H2S in their Barnett gas, IFNY with offsetting acreage, IFNY not being technically savvy enough to put biocide in their slickwater (bleach??? hello???)....Actually surprised they managed to get sand in the slickwater, let alone knowing enough to put biocide, corrosion inhibtor and surfactant.
I am eagerly awaiting results of the new wells.
I will comment on that, Orgeano. Since Terax's acreage is in the general vicinity of IFNY's and since you know that they found H2S in Terax's gas, it's not surprisee that IFNY's gas has H2S.
You seem so intent on debunking TERX, but you don't seem to realize that IFNY and TERX are almost literally in bed together because their acreage is so close.
Hey RBCTEX, do you get a funny smell wafting across the front porch every once in awhile? I understand from one of the contracting companies that work between Stephenville and Dublin that IFNY is having H2S problems with their gas. Likely from IFNY's attempt to save $30 per frac by not including biocide in the slick water. Has anyone else heard about this? I understand they had to mask up to gauge tanks in at least one well.
The financial hit for something like this, for the less savvy investors (regulator), is that 1) the pipeline doesn't have to take the gas, its out of spec, and 2) if the PL does take the gas, they can charge a treating fee that's pretty exorbitant, or 3) you're going to increase your well opex dramatically as you try to scavenge the H2S with chemical or catalytic scavengers.
Any truth to this? Far be it from me to spread untruths.