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  • questinvest questinvest Oct 25, 2013 10:04 AM Flag

    Home Run! Let's Celebrate!

    Rochelle is pumping! Yes!
    Let's Celebrate. There are always those that see a home run right out of the ballpark and say, "Gee, I hope it doesn't hit a car." Well, we all hope it doesn't hit a car, but the big picture is that it was a glorious, long awaited home run. Remember, this well tested at the upper limits of the test equipment.
    The production will make a huge difference, looking forward, so even though the last quarter and October will be a loss due to the costs of delays and lost revenue due to maintenance, the loss will pale in comparison to the revenue coming in on a daily basis. If I was in charge, I'd like to make that point at the time of announcing earnings.
    Good luck, longs. Party, party!

    Sentiment: Strong Buy

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    • Agree, super Friday as all longs finally get the good news of " were on line and producing" Really don't care if it hits a car or not, home run baby.

    • I agree - great news.

      My only concern is the statement at the end of the PR about E2 providing "redundancy in producing the Company's allotted capacity limits across the Scott Platform". Any of you guys know what our allotted capacity limits are and if W1 will soak up all of our capacity? If there is no Scott capacity left for E2, what are we going to do with its production?

      Could this thought be the reason the SP didn't take a bigger jump?

    • Positive PR by Premier Oil, today, as well, regarding Rochelle start-up.
      Yah! Longs.

      Sentiment: Strong Buy

    • I'm a bit disappointed. I hoped it would take 1 or 2$ in one day on that news. I hope it will continue to go up in the coming days...

      Sentiment: Strong Buy

      • 1 Reply to damien5500
      • Agreed. The company has far less uncertainty with Rochelle pumping. I expected the news to at least take the stock to $9. It may have to do with the subdued PR. Everyone knows the last quarter is going to be a sizable loss due to maintenance shutdowns, the extra costs and delayed revenue on Rochelle. Maybe some are waiting until after that news is real (quarterly report) to buy; however, that might be overplayed. At the current run rates, things are looking great compared to a few months ago.
        Bacchus is a huge home run; a big hit for Apache. The third production well came online in July bringing production at Bacchus up to 17,600 barrels per day (according to 8/1 Apache PR) of which END has 30%.
        Rochelle also looks like a major home run (maxed-out the test equipment limit). The Scott platform was upgraded and can now handle more END gas. East Rochelle should be online in a few months, too, but I'm not sure how much of the additional gas can be run through the Scott platform. I think it's more an insurance item to assure gas flow from the field.
        Alba is a winner though maintenance work hurt there, also. Not sure if Alba is back in production, but operator, Chevron, as to be adding three to four wells.
        Marcellus has wells drilled and pending completion.
        These are all producing properties. Plus, the company has great prospects, like Jurassic and Centurion.
        When we get past the losing 3rd quarter report, and start seeing the payoffs from our existing producing wells, I think people will be surprised at how solid the company has become. If the price is not in the upper teens I will be surprised. They will probably be very growth oriented, looking at acquisitions, etc. What a change from a few months ago. All JMHO.
        Good luck, longs.

        Sentiment: Strong Buy

    • The only thing that makes it sweeter is all of the short trolls that showed up over the past week. Congrats to everyone that hung in for the long haul. Looking forward to the production numbers and revenues from all of that high priced euro gas.

      Sentiment: Strong Buy

    • Agree, super Friday as all longs finally get the good news of " were on line and producing" Really don't care if it hits a car or not, home run baby.