well well well - whilst I was writing - new ann out at 1749hrs (my post 1753hrs)this evening for SEY - re appointment of new MD effective immediately - LOL. I wonder who compiled the Investor Presentation for same coy released 1 minute later (new MD - not likely). Mate - I dunno what to think but in terms of the response to Nazzy's Q&A all I can say is - yer right! That would be the current markets sentiment to anything announced atm given our MD's announcements for a fair while - yer right.
IMO Mr Say Anything was running SEY less the title of MD (semantics) - who else was - after-all the Fork and Sunset operate out of the same office and have basically the same phone # albeit different extention.
Heading into an increasing production profile (if we believe announcements for just a sec) I am concerned we are heading into a decreasing (seasonal) price profile and the new revenue kick we get from Coronado wells will be as good as it gets this year - until the March 1/4 next year.
In my recent research I found a document/presentation which is 18 months old. In it it shows peak production flows from 31 Cornado wells - 21 of which I can relate to monthly production report on the Oklahoma Oil and Gas database. Of concern to me is the fact that on average they are producing 7.13% of peak - a decline of 92.87%.
Also of the recent announced 3 pending drills Stines 1-16 permit was granted provided that the abandoned Johnson 1-16 well is plugged if Stines 1-16 is successfully completed. So this is a new drill where I thought they were going to re-work wells purchased from Coronado. I am very uncertain re this purchase.
Not that anyone wants to hear or discuss any of that. I will post something positive when I find it - and man I'm looking hard!
I admire your optimism fella. I'm trying :) at least I'm still rating it a hold. I just want them to snag some semblence of their now new revised strategy.
RFE Price at posting:
73.0¢ Sentiment: Hold Disclosure: Held
