DLS 0.00% 69.0¢ drillsearch energy limited

Seriously, what a great quarter. *2 new fields discovered....

  1. 11,785 Posts.
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    Seriously, what a great quarter.

    *2 new fields discovered.
    *Flax-1 stimulated successfully, with the bonus being a new pay interval has been found (but more info needed)
    *Juniper-3 successfully drilled, pay intervals found. Now needs to be stimulated.
    *Unconventional wells going ahead as planned, flow testing to start in Nov.

    *Production above my estimate (happy to be, the Eastern field produced well above what I expected, albeit still nothing compared to the eastern flank).
    *Average oil price of $114, I bet the U.S producers would love to have that.
    *Cash balance increased by $17.1 million, even after paying AQO shareholders $0.05 per share and completing the T/O (AQO had $4.8 million in cash, so if they had not completed the T/O, cash would have risen by another $7 million, or over $24 million)

    Lots of wells still to come.

    DLS is IMHO, the best pick in the Cooper right now. But I do hold others, just not as much.
 
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