canada

Just relooked at whats going on in Canada (info per mpo website)

Quebec Shale gas
drilling program on hold for nearly a year now because of environmental issues

Bakken unconventional oil
objective: Drilling program completed to convert licenses to leases (ie use it or lose it). A lease is for 5 years

Spearfish
Drilling program underway is primarily to maintain lease ownership (or may lose assets). As side issue, producing 2000 bopd at cost of $20 bbl

My initial thoughts are MPO is going to need large cash injection soon. Perhaps by spinning off Canadian assets as a separate listing

Whats your thoughts?

Will look at other projects