I'll take $10.50 for 20 days and a warrant exercise to bring in the capital needed to fully fund the 2014 drilling schedule and complete the leasing Jason has in his briefcase. He sent the signal Friday that this is a $10.50 stock and I hope his board members will follow suit to confirm the unanimous view.
The new corporate presentation is more helpful. I need to hear more about the goal of getting all leases held by production by the end of 2014 and the what if not achieved.
Up 5.2% on a lousy day in the market should have stimulated some positive "I told you so" comments, but to Dan's credit he's taking the high road and remaining mum. "Breakout Stocks Under $10" said buy this under $5.80 and obviously somebody got aggressive with it today, attracting other mo-mo types, I suppose.
I've never had much luck with warrants but am giving them a try here. Reading between the lines, the company seems to have an autumn target in mind for getting them exercised as a prelude to adding acreage in the basin. We shall see.
The new corporate presentation unveiled today on the new website should elicit some chuckles this week in Chicago for the closely knit BOD. George and Barbara Bush made their bones in Midland immediately after WWII.
Sometimes making money here is about being lucky with responses to changes in Brent. I had shares called away Saturday at $7.50 and was able to reload them this morning at $7.48-49. I think RJ will prove correct here through year end.
And the insurance for the combined companies is significantly less in total than it was for the two companies separately. See the recent JR comments shared on the IV board.
The end of 2014 price prediction is pure guesswork. The end of 2016, 18 months from now, is $22-$24 on a spin out of Caliber and RockPile IMO.
Did you by chance attend their analyst day? I suspect the Z Man was there and talking this up to his subscribers.
Arabella Exploration Announces Production From Emily Bell #1H Well
8:02a ET June 16, 2014 (Market Wire) Print
Arabella Exploration, Inc. (OTCQB: AXPLF) ("Arabella" or the "Company"), an oil and gas E&P company focused on the Southern Delaware portion of the Permian Basin, today announced that it has successfully brought its Emily Bell #1H well into production.
On May 11, 2014 the Company completed fracing the Emily Bell #1H and the well began flowing back on May 19, 2014. The well began initial production on June 2, 2014 and reached a peak initial production rate of over 1,100 BOE/Day. Since its peak production the well has averaged over 600 BOE/Day for the first twelve days without the assistance of any artificial lift and with only approximately 9% of the frac water load recovered. This is Arabella's seventh well and the first on its Emily Bell tract, where it holds an approximately 52% working interest.
"We are very pleased with the results from our Emily Bell #1H," stated Jason Hoisager, CEO of Arabella. "We believe that the initial and sustained production we are seeing is indicative if the type of results possible in the Wolfbone play. In addition to the financial returns that this new production will bring, we are pleased that this well is in line with our ongoing efforts to bring down drilling costs."
Arabella hired SDS Petroleum Consultants, L.L.C. (www.sdspetroleumconsultants.com) ("SDS"), an oilfield drilling consulting company, to assist with the drilling of the Emily Bell #1H and Woods #2H well with the goal of reducing costs and improving production results. After an average cost to drill of $4.4 million for each of the two wells -- as opposed to an average of $5.9 million for the Jackson #1H and Woods #1H prior to SDS being retained -- the Company believes that both the Emily Bell #1H and Woods #2H will be completed under AFE. As a result, Arabella has signed SDS to a contract to drill its future wells.
In addition, Arabella today announced that
Klondex Mines Ltd. (TSX: KDX)(OTCQX: KLNDF) is pleased to announce that it received the final permit for the Rapid Infiltration Basin (RIB) at the Fire Creek Project. The RIB is expected to be complete in third quarter of 2014. This is the final construction project for operations at Fire Creek and represents the project's long-term water management solution.
The Bureau of Land Management has issued a Determination of National Environmental Policy Act (NEPA) Adequacy related to the RIB pipeline and infiltration basin. The RIB design infiltrates water that complies with State and Federal drinking water standards and discharges it into the ground.
(Nice job, Lucy!)
Got my fill under US $0.30 now must wait and hope for a call following the Santa Fe Springs deal closure to outline the road ahead. GLTA