Thanks Brownie, Here are my take aways. Forgive the repeats and spelling. Running under the gun currently.
Niobrara-Jury is still out. Rumours he has heard of Devon producing 200-300 BOPD on those completed and are on confidential. Terry commented that he believes that this still has a chance of being a go but it may not be done quickly.
AusII-Finished fraccing over weekend and drilling out frac plugs now and should have ideas on flowback sometime later this week.
Gretel-Drilling complete and are currently laying down 4 inch liner as of today.
Conv Oil Hawk Springs-"Turned up some really nice permian and pennsylvanian plays while doing the 3-D on the Niobrara further down in the play". Could tell he was very positive as he said this and almost a little excited.
ND-"this would complete the Bakken on 320 acre spacing and then we could work on directing the drilling to the 3-forks". Paraphrased and not exactly in his words. Listen for yourself.
Quantum-large private equity fund out of Houston
Aus II-"Flowback will be happening later this week as we get the frac plugs drilled out"
Also on Aus II-"we managed to keep it in the reservoir rock the entire distance" stressing the importance of this.
Gretel II-Running pipe today. Also mentioned that Gretel II gave them a surprise with the dolomitic middle bakken intersection providing Elm Coulee type field findings
Fracturing of Gretel II-nothing set in stone but should be fracced in next 20-30 days.
On Roosevelt Acreage-31,000 set, the other 4,000 is at market risk but "since we are the dominant player in the area, we feel that they will fall to us"
Handshake deal for 12 months with skiddable rig and drill 1 well a month!!!! Huge.
Chill gas into liquids and get liquids out of this as well so that it is not wasted.
Horizontal Niobrara-"Jury still out but an encouraging start"
Cap Plan 2012 subject to change of course with results of Aus and Gretel
Very debt adverse from earlier experience in 2008. He may be telling us his feelings on another debt raise through banks? Leans more toward JV or dilution??
Hope this helps. Gotta run and hope you all have a blow out night overseas. STS
SSN Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
