I think Terry will do very well if he can purchase some bakken for $1,000 / acre.Here are the last prices paid for lots in McKenzie County.This is where TB is taking Samson for their Bakken expansion.
I do like dave's thoughts though. Terry has had 3-4 major presentations over the last 6 month's or so.EG; IPAA,ARCUSA,etc and in each one he has mentioned McKenzie County and also stated the avge production figures for a certain area.
"Advancing its oil production profile from proven oil shales: . Bakken Shale, North Dakota .1,200 net acres . Established production .Located in McKenzie County adjacent to 3000 and 2000 BOPD wells . Looking to add another project in the play"
I've been digging for weeks to try and find the link and now it's all coming together thanks to jimmy1000 and studythosestocks ( dave )
"Any thoughts on the 5.88 mill on the balance sheet? I wonder if the deal has happened already and took place (or is listed to take place) after March 31, 2011. I think TB has it already locked down and in place. Why else the 5.88 on the balance sheet???? We probably paid $3000 per acre would be my guess. Any other thoughts on this. May be interesting to see how we pay off our debt with the bank now but I have complete trust in TB. This stock should be going north with all the pieces falling in place. If you remember at the end of the ARC Conference 2 weeks ago, someone asked about the financials at the end of the conference and TB would not respond to the question but just said something like, "I am not going to comment our our financial balance sheet."
I think the deal is awaiting final signatures or something minor to close the deal?? I am now confident Terry has exactly what he wants in the Bakken.Not sure if I am clutching at straws here but has any of this tied in with the Quarterly report coming out 2 weeks early ??
Thanks jimmy / dave
Another nice McKenzie County well here.
04/19/2011
Kodiak Oil and Gas Reports Koala #9-5-6-5H Bakken Completion
Kodiak Oil and Gas Corp. (KOG) reported the completion of a well drilled into the Bakken formation in McKenzie County, North Dakota. The company has 27,000 net acres under lease in this area.
Kodiak Oil and Gas Corp. said that the Koala #9-5-6-5H well produced 3,042 barrels of oil equivalent (BOE) during a 24 hour period. This Bakken production was composed of 2,526 barrels of oil and 3.10 million cubic feet of natural gas.
Kodiak Oil and Gas Corp. said that the Koala #9-5-6-5H well was drilled with a 8,967 foot horizontal lateral and completed with a 24 stage hydraulic fracturing operation.
SSN Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
