re: Ann: Initial Production Rate-1,207 Boe/d ...
With such a small number of wells actually producing and variations of up to 400% even in the same areas, it is much to soon to take to much notice of individual wells. I think most of the wells will be producing much the same rates per length of horizontal in a year or so, and those flowing a bit slower now might hold on longer in the future. I believe this is a long time play which suits my investment scale, especially when I believe oil can only go up in the future. When you compare the EV/BOE (market cap per boe based on C2 resources) for the five players I think AZZ is grossly undervalued. AUT used this EV/BOE in their march presentation to point out they were undervalued.
AUT 3.23
ADI 5.05
EKA 3.99
AZZ 1.11
TXN 1.14
I have to emphasize these are my figures so I may have made an error. If I have would be grateful if anybody can point them out.
AZZ Price at posting:
58.0¢ Sentiment: LT Buy Disclosure: Held