This was in a seeking alpha article about wpx..."Other operators are also likely to accelerate testing activity in the play. For example, Dejour Energy's March 21 press release indicates that "a Texas-based E&P company is currently testing a 4,600' horizontal leg of an 11,700' deep Mancos well" in the same area. (That Texas-based company is privately held Ursa Resources.)" Did we know it was Ursa Resources?
I hope Roan Creek doesn't end up being DEJ's best property. WPX totally got a steal on the deal because that made the deal with DEJ BEFORE announcing their big discovery. DEJ maintains a 20% working interest in the three horizontal wells that will be drilled sometime in 2014 and that will cost about $15 million dollars to drill.
I'm a very disappointed we got almost no cash for the deal and we loose 80% of Roan Creek ownership, but again DEJ told me at the time that this wasn't one of their "key" properties right after the deal was announced. DEJ had no idea that Roan Creek had so much potential... Hopefully, they will be more careful with their negotiations and they will get better terms for any deal for NR.
Did you notice the point: "The company commented last month that the well may have EUR in the 7-10 Bcf range. Given the continued strong flow rate, that preliminary estimate may be revised even higher" This 1 well may produce revenue of about $40 mil or more.
The Seeking Alpha article is excellent. The WPX wells are huge producers. Two nice maps of the acreage, too. DEJ's right in the middle of it all. Nice acreage!!! Article also mentions "financial sponsors" could come in to assist the smaller E&P companies. Then they mention DEJ and Ursa. Yes, indeed. It's all getting proved out, with the massive WPX wells. Dont' sell even one share of DEJ. DEJ's a strong buy and holder. Tie up this investment for several years. I'm holding for the next ten years. Could be quite awesome. Nobody's even heard about DEJ.