colonnade

I had a little ferret ... they seem to oil in the US as RFE are to coal bed methane in the US ... eeking a cash flow from reworkings. I like RFE but they appear to be stagnant at the moment.

It is interesting that the 3 main directors all have B.Com or B.Econ degrees, not geology/engineering or science ... and that they sublet all core technical management to an external entity.

Perhaps these guys personify the new wave of professional management that some of the better explorer/producers are meant to be into these days.

I had a reasonable peruse of their IPO documentation. It seems a little disconcerting that about half of the companies the directors have interest/association with appear non existent or inactive ... with exceptions of Amadeus and Regal. Geological issues are well detailed.

The cash flow from assets producing for example just 68bopd and 270?kcftd aint huge (US$5500/d by my estimates) and wont fund a lot imo ... so maybe the expectation is that the workovers will boost cash flows significantly.

In the geology details, nothing jumps out and grabs me as having hidden gem potential ... and announcements to date havent been stunning ... in fact I couldnt find closure for a 15 day makeover at Palo Pinto starting back in June?

But something seems to be driving the sp ... what have I missed and what do you know?

Regards
Poyndexter