"Development came to an end because of oil price" wrt to Nth Stockyard
Tripling of production at Nth Stockyard, great rocks, high pressure & heart of Bakken - 18 wells and invested $20M into it last 12 mths.
On Bluff specifically - "unusual result with strong nitrogen" ... "sees fluid leg with gas cap - focus of next 6 mths to find the oil leg"... "Nitrogen not very valuable" ... "see it just as gas cap... provides energy in reservoir..."has 2% N15 isotope which is valuable" (didn't say for what) but the oil is what they are looking for.
Terry called himself a "V-shaped" guy vs a "U-shaped" guy on oil price recovery.
"2015 - small year for Capex" - "probably less than $5M" - and expecting to draw remaining $1.5M to the full $19M from debt facility...
A hint of BB re-determination in Q1 based on current reserves but seemed unconcerned in the interview
SSN Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
