Not one trade here today. No posts either. All bottom drawered until the oil price goes up.
RE: The email in full
Brad has certainly filled our news expectations after the new year as opposed to a drought beforehand. No complaints at all recently about the amount of information. Shows he does know how to keep shareholders informed after all. I expect many here will breath a sign of relief after digesting the recent news. The company will stay afloat much better than many feared after all.
The email in full
We've found some innovative ways to save over $1 million per year... ...and this link to the news release will provide with all the niceties in a fairly detailed 3-pager. We just completed a water disposal facility that will see our daily water handling costs drop from $2,100/day to $90/day. That facility that will also result in additional cash flow from (i) additional natural gas sales and (ii) full optimization of (increased production rates from) current producing wells. The economics associated with this project are fantastic and are not dependent on the oil price. It's all spelled out in the very detailed press release. With the cost savings initiatives we kicked off in November (we got on it earlier than most), the weaker Canadian dollar, the beneficially lower heavy oil differential, lower G&A expenses, lower operating costs and lower royalties, the company is making positive operating cash flow today, and is expected to continue to do so down to a price equivalent to approximately US$32 WTI per barrel. Anyway, all the details are in the news release and, as usual, I encourage you to call and/or email me if you have any other questions. Cheers, Brad Nichol
Just received mail circular from Brad highlighting the big saving in water treatment. Loving this part: "With the cost savings initiatives we kicked off in November (we got on it earlier than most), the weaker Canadian dollar, the beneficially lower heavy oil differential, lower G&A expenses, lower operating costs and lower royalties, the company is making positive operating cash flow today, and is expected to continue to do so down to a price equivalent to approximately US$32 WTI per barrel." We are in as good shape as possible considering the oil price and looks like Brad has done a superb job.
Glad I got out yesterday
as this could drift down to 2p now, no news will come for ages. Brad guarding the family silver but that is about it imo.
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