Light oil is at $74 Canadian. Looks like heavy shorting to me. Will be interesting to look at short position for the end of May. Oil is going higher so they WILL have to cover their short positions sending the stock higher.
We are revising our 2015 annual average production guidance upwards from 93,000 – 100,000 BOE per day to 97,000 – 103,000 BOE per day.
We are increasing our 2015 capital budget by $60 million from $480 million to $540 million.
The additional completions are underpinned by robust economics. The average expected rate of return for the completions (excluding the drilling capital already spent), using a flat West Texas Intermediate oil price of US$60 per barrel, is approximately 60%. The average expected payout period for the completions is less than two years under a flat WTI oil price of US$60 per barrel.