Re: Monday March 2cd
in response to
by
posted on
Feb 26, 2009 06:09PM
(Edit this message through the "fast facts" section)
yes Brymstone, I agree in this about not stir the pot. To say like Binion did is fine. I have comfort and confidence in this he said:
We see these results as very promising in comparison
with the learning curve for other successful shale
plays. We are highly confident better results will be
achieved through incremental improvements over time.
We and our partners remain fully committed and are
looking forward to continuing our work to
commercialize the Quebec shale plays."
Better to move on. (Forest went down a little more today)
and this diplomatic:
The Operator successfully drilled the wells
horizontally and pumped multi-stage slickwater frac
jobs without any major operational issues or cost
overruns. This is a significant accomplishment in a
new area and bodes well for achieving our long term
capital expenditure goals.
And he actually said that they got the results needed, so no reason to bring in expencieve rigs/materials at this stage. The learning prosess goes on well.
While some had very high hopes for
our first horizontal wells, the rates actually
achieved are well in line with reasonable
expectations for four stage horizontal wells in a new
shale play."
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We would'nt have gone down like this in a normal market, a little, but nothing like this.
I think we are down on what we have in cash on the book, without land value and outlook. Manny others are in the same situation.