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.
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.
sumark4221, you & I have been around for a long time. We are investors as opposed to traders. We have either patience or stupidity. So, we wait a little longer. My info is the IP is for 24 hrs. The $4mm write off gives a distortted picture to the screeners allowing insiders & friends to accumulate shares. I would guess that you already have a boatload like I do. Keep the faith.