I got some in the 30 cent range but unfortunately the bulk came after Brigham sold out. Sitting on an average of just over $3 per share.
He may be but Ole Lynn has made me HUGE pile of money. A stack that is growing again today
Navy, you may be right on this quarter but it might surprise. They had a lot of wells come on line right at the end of the first quarter where completions were delayed. For the most part drilling went on as planned thru the winter just could not frack easily. Going to be a lot of wells completed in the second quarter just can't be sure how much of that production makes it to the bottom line. No doubt the third qtr will boom
They actually look like a reasonable buy however the analyst don't seem to like them much
Strategic Oil & Gas : NBF cuts to underperform from sector perform rating
* Strategic Oil & Gas : National Bank Financial cuts target to C$0.40 from C$0.55
ZAZA is one of my plays. Highly speculative and very dependent on what EOG is finding with their wells. Goods news and ZAZA rockets, bad news and they are in serious trouble. Second JV with Sabine appears solid but not a lot of acres there. Appear to be some very good wells right on the border of the Walker county leases/JV with EOG but that is currently rumor not fact.
In any case we should find out in the next month or two. EOG is holding all information tight but ZAZA will be able to show total production numbers at quarters end and that should tell the story.
There is a very good well out there that one of the 2 JV partners, Sabine or EOG, has drilled. Till the JV operator chooses to announce or allow ZAZA to announce we are left to speculate.
Need to feel good that the stock was UP on very strong volume. That is always a positive indicator
The JV with Sabine is roughly 8000 acres in the Eagleford. They are planning well spacing at 100 acres which means 80 wells. ZAZA is a 25% partner. They just started the 4th well and are pushing rapidly ahead based on success of the first 2 wells.
By the way, have you looked at the price of NG lately? $4.66 today
Existing production last I heard was running around 1000 bbl but the Sabine wells and very productive and are coming on line so that may be up. We will get a production update in July and that will tell us a great deal.
Will take a harder look at actual production
That would mean a lot more if EOG and Sabine would confirm they are pumping oil in a big way for us.
Below is a excerpt. Note the key point that after 5 years 20% of shale derived production can be exported tax free. This make the recent buy a very good deal as the existing production is financing the shale growth we all know is coming.
" Argentina, for example, passed laws last year allowing foreign companies to export 20 percent of their shale production tax free after the fifth year of development. Shale gas deposits in Argentina’s Vaca Muerta rock formation at the foot of the Andes are estimated to be among the largest in the world.
That has led to investment by several global players. Chevron, for example, agreed to spend $1.6 billion this year alongside Argentina’s nationalized energy company YPF to develop local oil and gas reserves. That comes on top of a previous $1.24 billion investment from the U.S. energy giant. Royal Dutch Shell also is expected to invest around $500 million this year in the Argentine region as it hunts for unconventional energy reserves."
Google "Scouring the World for Shale-Based Energy"