That’s looking pretty encouraging I’d say, considering the majority of the results reported to the Oklahoma commission have higher peaks than what’s initially reported (and those results are probably borderline economic as is).
Thanks for posting Tol!
It’ll be interesting to see the operational results for the quarter. The Eagleford results are obviously economic so it’s just a question of how good they are. As for the Mississippian/Woodford, the results as of the last report were encouraging, but it still has a little bit of an enigma surrounding the project.
It’ll be interesting to hear what the company has to say about the $6 million 10,000 net acre Logan County acquisition, which fell out of favour (closing conditions had question marks surrounding them apparentally). I was a big fan of that acquisition, because it made the block very contiguous at a small price which would add A LOT of value to the project if the wells were economic going forward. Given it’s cheap, I hope they found a way to close it. I’d guess that the Logan County project will be up for divestiture going forward (to focus on the Eagleford), and that 10,000 acre acquisition makes the project quite a bit more attractive on face value imo.
SEA Price at posting:
$1.22 Sentiment: Hold Disclosure: Held
