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Double Eagle Petroleum Company Message Board

  • margin321 margin321 Mar 13, 2013 9:08 PM Flag

    Operations update out

    Not the financial numbers yet. Not that exciting. Modest production from niobrara well and wrote off $4 million. Waiting for permit to test two deeper zones (well is over two years old and they are waiting on a permit). Meanwhile waiting on a permit to do seismic at Main Fork- that project has been in motion (slow motioning guess) for over 10 years. Production up marginally but no numbers on prices or revenues or earnings. There should be a part two to the release.

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    • yes, the write off of $4MM is not encouraging...Need to hear more details about decline rate after the IP production....Is the IP rate for 24 hours? 72? 96? Or is that the rate after 30 days? Very important to hear those details....
      And yes, it is disconcerting to see them have to wait for additional permits to tap the lower gas formations....Gas ain't too sexy, but if it augments 200ish barrels oil/day, then that is OK.

 
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2.86+0.17(+6.32%)Mar 31 4:00 PMEDT

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