I copied this comment from a Canadian board discussing POE. I thought it would be of interest to this board. Especially the comment re: the well being choked back and capable of 1800 bbd.
Today on Market Call Tonight on BNN TV (http://www.bnn.ca/)) you can replay Peter Hodson's from Sprott Asset Management has, as one of his Top Picks, Pan Orient.
Highlights of his comments include:
- todays announcement effectively doubles POE's production
- well's are very low cost (~$800,000) and payback on this well is about two weeks
- L44-H is choked back and in his opinion, could produce at 1800 bbd
- 7 more wells planned in the near future in this field alone.
- they have other parcels to be drilled.
- not well followed in the market .
If you do you due diligence, I think you'll find there is huge potential upside in this play. Just wait for a few days and I bet Octagon and Wellington to name a few, will come out with revised upwards estimates.
poe is top pick
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