I've been quiet for some time watching/reading ect and stayed out of the conversation.
To me the whole 'Surprise' inactivity is mystifying, yet there has to be a reason for it. What that reason is, is the question yet to be answered.
Many will assume and make "guesstimations", the problem is that apart from R.C. and those in high office at Central Station,no-one really knows. My Guesstimations are below.
Common-sense would dictate that it is money thing ( not enough in the bank to facilitate a drill bit) for the inactivity at Surprise. The other would be that it is being used as a bargaining chip with either another Major or our current JV partner in the area, as part of a separate JV deal, that was been alluded too a couple of announcements ago. Why pay with money we don't have when we can get someone else to do it. The fact remains that we are still producing oil from a well where the sweet spot was missed, and number of other targets identified in the same structure sit and lay dormant for another day. The biggest disappointment as a SH is the now total lack of information regarding Surprise. I would hope that has been caused by backroom negotiations, but that is an assumption on my behalf.
Our current J.V partners seem to be more interested in gas rather than oil, and given our current board it makes some sense that we also are trying to take advantage of that money and expertise. I only hope that the pieces of the picture will start to make sense sooner, rather than later.
There can be no doubt that we have gas and oil, that has been proven, the biggest issue is the development of those assets/ transmission to market and who is going to pay for it. Then again that was the same issue 3 years ago when i first bought into this stock!!!!
PSI I agree the province has huge potential, yet I also agree with Raven and Buddy in that there has been soooo many missed targets and milestones that it can be disheartening and the following "why" questions need to be answered.
Vretts/GG I feel your pain, but let it be a lesson learned.
Cheers
Ikikyabut
CTP Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
