This stock is too cheap.. it's an oil wide issue atm. Also could be the IP from the new well may be significantly higher than the report shows as stated in the report.
Looking for a good entry point but by the chart it seems this may continue a down trend.
Any TA traders have any comments?
Also, any near-term pending catalysts that could cause a spike?
11% up is especially not bad when you consider this:
Other O & G also down
by mitchjl_16923 • 16 minutes ago Flag
Most are down 4 to 5 %, as is MHR.
defen, I was hoping for a little better spike on CAZFF, was going to move some profits here for 30 to 60 days when pipeline comes.. then move the profit from CAZFF with added MAUXF profit to MKRYF and let it sit until they get their mid-stream issues worked out and get back to upper $2's or more.. but .. CAZFF didn't go up enough to cash out yet so.. the profit locomotive got stuck in ignition phase.. lol. I will probably do that anyway, will give CAZFF a couple days to see if the news just needs to sink in.. but using FIFO, I'm selling .19 shares of CAZFF.. still some good profit to work with (have an avg cost now of .26, will go to mid .30's when/if I sell the .19 shares). Not recommending you do it too, just talkin stocks, on stock message boards, who wouldda thunk it!
I'm a little taken back too that this is not higher. Success after success in development and timely. Debt is high but with the successes, the debt ratios will be dropping fast. Patience is all I can say! Hand in there and Gl2ya!
Good things happening at CAZFF!
You can check out their full listing and news release at CAZ.TO.
First well @ broadcaster, 3rd bone spring well, produced at a 24 hour gross rate of 2,621 barrels (bbls) of oil equivalent, which is comprised of 2,062 bbls of oil and 3.36 million cubic feet of natural gas.
The well was producing on a 46/64ths adjustable choke at 1,850 pounds per square inch flowing casing pressure. This is a very strong well, and the Company anticipates a higher peak rate to be achieved in the coming days. Once a peak rate is achieved, the market will be updated accordingly. Facilities are already in place on the property, and both oil and natural gas are flowing to sales. Caza currently has a 25% working interest (approximate 17.63% net revenue interest) in the Broadcaster 29-3H well and the Broadcaster Property.
2 more wells drilling.. read the release!
DYODD and Gl2a
More from the release:
Lennox Property, Lea County, New Mexico: The Lennox 32 State Unit #4H horizontal Bone Spring well (the "32-4H well") is currently drilling ahead at approximately 15,289 feet measured depth to an intended total measured depth ("TMD") of approximately 15,740 feet. The Company anticipates reaching TMD today and has scheduled the fracture stimulation for October 6, 2014. Caza currently has a 50.00% working interest (approximate 38.98% net revenue interest) in the 32-4H well and the Lennox Property.
Marathon Road/Lynch Property, Lea County, New Mexico: The operator has moved the rig onto the location and is preparing to commence drilling operations on the Marathon Road 15 OB Fed #1H horizontal Bone Spring well. This well is a direct offset to the very successful Marathon Road 15 PA Fed #1H horizontal Bone Spring well, which had an initial 30 day average of 1,974 Boe/d gross, consisting of 1,721 bbls of oil and 1.52 MMcf of natural gas. Caza currently has a 14.7% working interest (approximate 12.5% net revenue interest) in these wells and the Marathon Road Property.
Broadcaster Property, Lea County, New Mexico: The Broadcaster 29 Fed #3H horizontal 3rd Bone Spring well (the "29-3H well") reached the intended total measured depth of approximately 15,818 feet in the targeted 3rd Bone Spring Sand interval and was subsequently fracture stimulated in 40 stages beginning on September 7, 2014. Under controlled flowback the producing rates are steadily increasing, and the well produced at a 24 hour gross rate of 2,621 barrels (bbls) of oil equivalent, which is comprised of 2,062 bbls of oil and 3.36 million cubic feet of natural gas, on September 16, 2014. The well was producing on a 46/64ths adjustable choke at 1,850 pounds per square inch flowing casing pressure. This is a very strong well, and the Company anticipates a higher peak rate to be achieved in the coming days. Once a peak rate is achieved, the market will be updated accordingly. Facilities are already in place on the property, and both oil and natural gas are flowing to sales. Caza currently has a 25% working interest (approximate 17.63% net revenue interest) in the Broadcaster 29-3H well and the Broadcaster Property.
Another item discussed that is surprising to me is decline rates. The wells drilled 5 years ago producing 2500+bopd are still producing in excess of 2k bopd.
There was also discussion of being able to target additional sands in existing wells.
Mentions of other successful oilers operating in Nigeria..
Interesting stuff.. if I get more time today I may listen to it all the way through, but I get the idea.. for more oil than share price!
There's also a link on the website to their September 15-16, 2014 – FirstEnergy Global Energy Conference, Intercontinental Park Lane, London (look at Shareholder Centre tab then Events Schedule). Skimming through the presentation, it was stated the current max production output with the existing pipeline is 16K bopd and we have an additional 15k bopd in completed wells waiting on the 2nd pipeline. The quote was he expects 25k bopd 'anyday' or up to '3 weeks.' The new pipeline is expected to operate at 8% losses. He did not mention the dividend but was asked at the end of the presentation. The response was don't expect as high of yield for the next 12 to 18 months but that they will try to pay a 6 to 8% dividend. He mentioned going from a production company with cash to pay dividends to now a growth company acquiring leases as they come available. I did skim after the first 5 mins or so and did not hear anything more specific about acquisitions. As I've said here before, considering all the dynamics involved in the acquisitions, the way the gov runs these 'marginal fields' in Nigeria, and the indigenous oil development program.. factor in we're not the only ones chasing it, I really don't expect to see anything definitive on the acquisitions for some time.. at least a couple months. And it's got to be hush in the process considering how it works.
In June 2007, Mart, Midwestern and Suntrust re-entered the Umusadege-1 (“UMU-1”) original discovery well and production tested two of the thirteen oil-bearing sands present in the well. UMU-1 came on production in April 2008 at sustained oil rates of 2,400 barrels of oil per day (“bopd”). The well still produces at over 2,000 bopd after four years of production. The field produces in excess of 12,000 bopd, with anticipated increases to field production rates as a result of 2013 drilling program and increases to export capacity. Since re-entering UMU-1, Mart and its partners have drilled 7 development wells, with 100% success rate. All wells have encountered oil in Agbada sandstones. The field continues to be delineated in parallel to production and development operations. In early 2012, the UMU-9 well extended the pool boundaries and discovered additional hydrocarbon bearing sands. To develop the multiple stacked sandstone reservoirs, Mart employs dual sliding sleeve completions to reduce the required wellcount for development and provide flexibility in depletion strategy.A phased development plan was implemented using results from the initial development wells and early field performance data to optimize the full development of this multi-reservoir field. Mart and its partners installed a 10,000 bopd early production facility (“EPF”) in 2008. A permanent central production facility (“CPF”) has been installed to replace the EPF, with further expansion on-going to reach a capacity for the full field development from the Umusadege field. Operating costs efficiencies are expected to increase the field netback, as the field matures and production operations increase.
Following an independent review of the Umusadege field effective December 31 2012 by RPS Energy Canada Ltd., Mart’s share of the Umusadege field’s net total proved plus probable reserves (after deduction of royalties) were 17.7 million barrels, with a further 5.4 million barrels of possible reserves.
Oh, and that's $3,000,000 spent SO FAR in 2014.. 2013 $3.24B was spent which is $3,240,000,000 / 535 = $6,056,075 per each member of congress. Ridiculous.. when is Obama going to fight for we the people? Hilary won't.. but he did a great job of getting us to send in more money through the ACA.. but again, there is good in the ACA that I do support. We needed to allow people to get coverage who would be denied and we needed to do something to allow those with less income to be able to afford it.
mitch.. that's exactly what I'm talking about. The ACA has some very good changes to our HC insurance system to help those who can't afford and /or were denied get coverage. Of course it shouldn't be 'free' and you would think that because it's not free would get the other side to at least half way support it. What is lacking from the ACA is overhauls on cost side of the HC equation. It is ridiculous our laws make it a FELONY for joe public to buy some common prescription for affordable prices from Mexico and Canada where the gov does not enact laws that allow pharm companies to bend their customers over. Or that our system allows Doctors to basically rape the insurance companies. Our HC costs are broken in many, many ways.. Obamacare only addresses the issue of getting more people to buy it at a younger age and allow those who would be denied to pay for it as well. All in all, it's more money to a broken system, but it is a start. It probably will move to socialized HC over time, thus protecting big pharma, hospital, and all big corp HC industry company's profits at the expense of the taxpayer. But it could move to addressing the real reason our HC is broken, which is obscene 'costs.'
Most ACA supporters point to other country's socialized care as an example of why we should have socialized care.. you guys point to the lower cost and you immediately assume it's because everyone pays for it with taxes.. but you're wrong.. go to those socialized care countries and tell me what a prescription costs and then compare that to the US. Same with any medical procedure.. same with equipment, etc.. the laws here are designed to protect profits.. In 2014, lobbyists spent 1.6B dollars influencing our laws to 535 members of congress. That's $3,000,000 to every single member of congress in 1 year.. that's why our HC is broken.
Of course, it's that other half of the government within the same government that does all wrong. Thank God we have that other half of the same government, right? Never mind it's the same government.. I should rephrase, the same broken government.. but that's what you vote for.. you vote for the other guy in the same government who is best at blaming the other elected officials of the same government. You don't actually expect who you vote for to accomplish anything because he's already explained to you that everything wrong with the government is that other half of the same government. So in the end, we're all voting for failure, we just want it to be that other half of the same government's fault.
robert.. not to mention BO's promise to be out of Iraq in 6 months on his FIRST election. I can't do the D v R game anymore.. each side tries to destroy the good of the other and make their own stink smell like roses. Neither side will admit faults, and neither side will praise the other when they're right. That's the game, it's not D v R, it's Gov v Public, and we're not losing, we already lost. Evident in growing unemployment & welfare, constant wars, rising prices, etc.. the rest of the world is passing us by. Have you seen picks of the cities in other countries that used to be 3rd world by American standards? We haven't been on top in a looooong time.. but our top 5% sure are raking it in!
It does seem that way, but this time of year is notorious for oil pricing drop. The chart I was referring to is AXAS 90-day.. the peak in July, pullback, rebound, but we started a second leg down before reaching a new 90 day high which sometimes leads to a new 90 day low on the 2nd dip. This news reversed the trend. I was looking for the 2nd dip to add cheap, it just didn't happen, so I didn't add.. will find somewhere else to put my flipping cash :)
By the chart, I was expecting upper mid $4's to add some. Might still happen after the good news settles in and if oil keeps its down trend. If not, there's always other stocks.. gl2ya!
Look at MAUXF, been bucking the recent oilers down trend, up 8% today!
I've posted a few times here about it because it is soooo obviously a no brainer for some fast gains.
1 year ago when the 2nd pipeline delays started, Mart was over $2.. fast forward to today, 4 wells got drilled, all in excess of 4500 bopd.. that oil can't get to market due to only 1 way out is maxed out, thus the need for the 2nd pipeline.. and the pipeline construction finished a month and a half ago, all that remains is tie-in to the Shell terminal and testing. Of course, this is Africa and this process could take another year, lol... but I doubt it, but it IS possible which is probably why the stock has not already regained the majority of it's pull back, just about 15% so far.
The only sure things are death and taxes but Mart going much higher in a relatively short period of time with minimal downside risk is pretty close!