"We plan to deploy $12.5 million drilling 5 Three Forks wells in...

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buc

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16/09/14

18:13

Post #: 13983638
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Originally posted by Chrysipp37 ↑

This sentence from the yearly report almost makes me pu...:

"Estimated 2015 Capital Expenditures

Our capital expenditure budget for the year ending June 30, 2015 is estimated at $26.6 million. We plan to deploy $12.5 million drilling 5 Three Forks wells in our North Stockyard project and $13.5 million drilling 6 wells in our Rainbow project in North Dakota. We also plan to spend an additional $0.5 million completing our Bluff well in our Hawk Springs project in Wyoming and $0.1 million drilling the Pubco prospect in our South Prairie project in North Dakota. Any capital expenditure remains dependent on us having the capital required to meet the expenditure. We will not be able to fund all of the planned expenditure from our existing working capital and there is no guarantee we will be able to raise the funds through the debt or equity markets."

I'm out, sorry....

Out with a loss of 53 percent....

c

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"We plan to deploy $12.5 million drilling 5 Three Forks wells in our North Stockyard project and $13.5 million drilling 6 wells in our Rainbow project in North Dakota"

That's about right, a bit over $2.5 million for our share in each well. It's the same for Slawson and Continental Resources. What's the problem?

"We also plan to spend an additional $0.5 million completing our Bluff well in our Hawk Springs project in Wyoming"

$500k to prove a new prospect. Take a nap chrysipp37, .

Last edited by buc: 16/09/14

SSN Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
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