AZZ antares energy limited

august monthly production

  1. 5,038 Posts.
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    Thought I'd drop by and make a few comments

    Nice of the company to final tell its shareholders that it did break the 2500 boepd number on a BTU basis.

    Its a pity that the company prefers to pass on such information secretly to brokers in advance of informing all its existing shareholders through the proper channels.

    You might also like to know that contary to what Antares has said publically, it does not hold all of the Southern Star leases by production.

    What it actually meant to say was that it hold's all of the Southern Star leases by production, where it is the operator of the leases.

    Which is not the same thing, but is typical Antares, where you never get the full truth. Which is why investors treat it as they do.

    Yes August nat gas production is down only slightly. However I've never heard of a 20%+ drop in oil production being refered to as a "slight decrease" until now. There again its Antares, so what else can you expect.

    The lack of oil production at Southern Star (as a percentage of overall production) is a real concern to me going forward, its going to significantly impact on the future value of the leases.

    As for the term assignment, another month passes without apparently Dilworth 2 reaching break-even. I find this totally staggering, I wonder what this does to the valuations put on it by Strachan & Co and others?

    As for Northern Star and Big Star the production numbers are truely terrible, even the latest Archer well fracced after sidewall core analysis etc hasn't broken 900 boe in a month.

    Maybe the Fusselman section will rescue some value there.

    Next week we'll get to see the true lease by lease data for August to get a better picture of how leases are performing and see which leases contributed the most to this 7000 BO decline.

    It's going to be at least October before they can sustain production above 2500 boed on a BTU basis.

    LOTM
 
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