Problem with well 4 in the Athena field

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AndyK

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Problem with well 4 in the Athena field

posted on Jun 27, 2012 03:20PM

The company has reported that the well has a blockage which they hope to get flowing again with a massive bottle of Drano (HA).

Serioulsy, this could take a workover program, but the oil will flow again.

This might hurt the yearly average, but since they just got the field into production, it will not, IMO, kill their 3rd Q earnings. Maybe they won't be as good as they could have been, but lets face it, they will be better YOY.

The cash will still flow, so I am not sure why anyone would sell into this.

I bought some more, this is a gift and I thank you all of you weak hands. If you think that your money is going to do you better elsewhere, good luck, there are no sure things in this market climate, but an increase in cash flow with no debt has got to be the safest thing in the market right now.