Made it to the Briefing tonight.Bit different this time, room...

Made it to the Briefing tonight.

Bit different this time, room was full of smart guys with lots of good questions,

Simon spoke for about 1.5 hours, Bit of history and asset detail stuff for new comers but then the briefing became a discussion about strategy and it really got interesting.

Effectively Provost drilling is just waiting for spring thaw to finish and the roads to become passable.

Provost drilling only to continue until max sale value is attainable, probably somewhere between 3-6 wells, they may go to 10 but it unlikely.

Then its into Rock Creek.

Fair bit of tooing a froing about the merits of drilling versus being real estate agents.

Effectively it became clear that sacking everyone and doing nothing for a couple of years is probably a good way to not go broke slowly as you are reliant on someone pulling a rig up on neighbouring land then trying to leveraging off their result.

So the plan is to put 5 wells into the Rock Creek.

The good news is they will probably be drilled back to back so it could get very exiting at some point.

Bad news is that means we up the risk, however the company is very confident about the geological robustness.

The main risk at issue is engineering risk hence the need for a GOOD drilling Engineer and GOOD drilling contractors.

Dont vote for the options if you dont want the best people working on this for you. In fact we probably wont be able to get anyone to work on our stuff. Effectively There is an oil rush going on in America/Canada and finding and retaining people is extremely difficult.

Also spoke a bit about technology and apparently slick water fracs are not looking that good, it would seem hydrocarbon fracs are the way to go. Dont know to much about that so will have to do a bit of research, but I think it means use diesel rather than water.