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Ann: 5 Well Driling Program at Brooks Commenced, page-17

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invertedva

8,705 Posts.

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19/10/22

11:36

Post #: 64274852
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Originally posted by jophda: ↑

CE1 shareholders know how much the one vertical and two horizontal wells the company drilled cost and how the cost over run caused a lot of pain .
Is my memory right that they did not get to finish the testing of the last well before the change of seasons chased them out of there .

Very much doubt they will be doing much drilling on their own and $20 million would be not nearly enough imo to get them to first revenue from the Montney .It is an expensive place to operate although a lot of costs for roads has been paid and the large pad is there .
At least they are talking about the Montney after a period of radio silence .

There is a big incentive now to get LNG plants up and exporting so CE1 is almost sure to have its day ..., but when ?
The Market thinks its too far away still .

I wonder what happened to the leases they had there that expired ?
Has the government or will the government put them up for lease again ?

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Hey Jophda,
That $20 million figure was mentioned several times by management as what was required to bring it to market IIRC.
And yes, winter set in and they ran out of money.

CE1 Price at posting: 12.0¢ Sentiment: Buy Disclosure: Held
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