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Earthstone Energy, Inc. Message Board

  • true_truth true_truth Jul 2, 2013 6:44 PM Flag

    Local News from Nebraska Part 2

    The commission permitted 98 wells in 2005, 113 in 2006, 236 in 2007 and a 20-year high of 331 in 2008. Then, prices collapsed and only 82 wells were permitted in 2009. It climbed to 154 in 2010 and 195 in 2011 and dropped to 142 in 2012. In the first six months of 2013, the commission has issued 87 permits.
    Much of the drilling activity has shifted from the Panhandle to southwest Nebraska counties like Dundee and Hitchcock that border Kansas, Sydow said.
    The Earthstone project comes after Australian company Black Star Petroleum said last month that it found what could be several millions of barrels of oil in the state thanks to two wells drilled near the Wyoming border in Banner County.

    Banner county is adjacent and North west of Cheyenne County. Maybe Black Star partnered with Earthstone?

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    • true - you have posted an immense amount of information on earthstone and yet we have not performed - it just doesn't matter. Ray has often come out with indications that what he was doing this time could be transformative for the company but alas it was not. But - he did continue to increase his take from OUR coffers leaving shareholders stock at new lows. We have missed every BULL MARKET with Ray and now oil is rising again and our little play swims lower or treads water. So keep posting if you must but I do not see the value. Just as I thought I had it pegged I found that was not true either. God luck but I have seen this many times before with posters putting all kinds of data on the boards yet the real TRUTH is EARNINGS. Boolean

      • 1 Reply to booleansearcher
      • Yea Boolean,

        I'll continue to call it like I see it, and while Ray is siphoning way to much salary and earnings out of the company prematurely before the company could support what he is doing, the earnings were
        .37 this last quarter not .22 cents, and there is a lot of new production this quarter in N.Dakota.
        So I expect another quarter of about 40 cents maybe more this quarter. So, maybe the past quarters down in the twenty cent range are done. What the future holds is now really up to Nebraska, but Earnings are turning. We'll see if Ray redeems himself and pays for his preferred dividends. Wait and see mode for now.


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