stop the rot !!, page-37

tahi

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exploration and petroleum engineering are not such a simple science nor a simple business.

Every oil and gas company (including the most successful one as Exxon) makes mistakes like our Bakken or even worse like a dry well. And unconventional oil and gas is difficult. Example: Exxon drilled and fractured and spent many millions $ during the last 2 years for the deepest well in Hungary and they discovered nothing except a small hot water flow. Complete duster!

Bakken and Spearfish are no complete dusters and as somebody working in the E&P business I have to say they have a pretty good successrate in drilling no dry holes.

The only problems if it is right what our MPO management tells us about our assets: we should earn a better cash flow with the wells (ie produce higher rates) and the share price should be higher.

If Mr Beck and the ex Shell guy come on board I am really curious how they will make it different.

In my opinion creating a new canadian company is nonsense. If the bakken and the spearfish are good reservoirs we do not need a listening because even when the market does not unerstand it and doesn`t buy MPO shares in Australia we will earn good money by producing heaps of oil there or another oil company is willing to farm in. If the bakken and spearfish are crap, nobody will buy the shares of the new canadian mpo company neither.

For me that`s the main point I do not like at the moment.