agm comments

Have decided to post some of the comments that Terry made at the agm I attended on Tue this week. I initially decided against posting as it can't be verified that what I post is fact so It's up to you to believe it or not.

I have put my thoughts in brackets and I have used "" when quoting TB directly.

The Defender down hole pump has a volume of 600 barrells/day and they would be happy if they get about 400barrels/day ip.( i could be wrong on the 400 and he may of said 300-400 and this is why I hesitated in posting as it not an official number but it gives you an idea)

We have stoped looking at the CHK land and i think he said we aint buying it(I think this is a good decision as we have enough land already).

TB's also said that CHK will not let the land go cheaply. He also agreed to my question that they were trying to flip it for a quick sale and did some things on those wells that he wouldnt have done.

He mentioned that CHK had someone new on the board that was pushing to raise cash.


Other companies have moved in around our Fort peck land. (this is a great sign of its worth and what I expect will be the company maker no2 after the CHK land sale)

we may not need 3d on fort peck but as mostly you can just drill a pilot hole and take a core to work out what to do.

They were suprised to see the muddy J on SOA as they didn't encounter it at defender on the way down which is quite close to SOA.(goes to show that the Nio is different and early days compared to the Bakken)

He something along the lines that the permian targets hold great potential in the Niobrara.

on the issue of the potential frack ban in the Bakken, Terry thinks it wont happen and DR DeAnn Craig sits on I think he said the Colorado oil board so he implied that DR Craig has a good idea of whats happening there.(Quality appointment Dr DeAnn is)

Talked alot about helping to reduce the high unemployment at fort peck with scholarships and Samson also put together a flyer to help them get jobs on the samson rigs.(going above and beyond to help the community out)

Zavanna where dragging there feet on the infills in Nth stockyard so SSN said to Zavanna that we will go it with or without you. That forced Zavanna's hand and so thats how TB got the DEC 14 hearing done.

Terry mentioned he has had experience using coiled tubing for the frac whilst at Santos sucessfully.

Some in the industry believe they should stick with tradional frac and others say coiled tubing is ok. Terry said "the rock doesnt care how it gets its sand"

Terry talked about the short interest and I think he said that it is low now and pointed to the sp graph and said if the sp has a repeat of the spike up earlier in the year they will get "burnt".

He mentioned that its hard to get the instos on board and that they can be a double edged sword(its not for lack of trying. The guy is travel machine)