I'm watching with interest here (Not holding). Two things I'm...

I'm watching with interest here (Not holding).
Two things I'm waiting for before having a bite are;

- Operations costs to reduce (this has come out of this quarterly) , annualised operations cost at this level + capex required to just to keep current levels leaves a buffer of 5mil CAD PQ ... not quite enough to grow production or safely gaurentee overruns wont have it come unstuck.

- Cash buffer to increase (see a possible cap raise on the horizon or a pause in production but its a double edged sword to do this)

They are going decent but need a higher BOED to buffer from left of field events (low oil price, overruns, poor qtr drilling ect.)

Id like to see around 5500boed before they steady the ship ... if they can shave a few mil off operations this will leave 12mil approx PQ to buffer issues & IF no issues then disbursed DIVI.

Another quarter or two of drilling to get it to where id be comfortable knowing they have Capex , growth at Montney & divi covered.

They may solve the cash on hand issue this Qtr I assume, which means it may be Q3 before it hits my safety targets.

Montney is definitely the exciting part with reserve size ... ill have to strike a balance between risk and reward before i look to enter (so may take a nibble sooner but not yet)

Been watching Ce1 for about 6-9months