Member Info for partridge

It seems Grand Mesa is working on Salen 14-35 as the operator "Cement squeeze the Cherokee perforations from 7426-7429 and the Lansing Kansas City perforations from 6882-6888', if necessary and Acid Job may be performed on remaining perfs that are open if not we will produce for 30-60 days and then add perforations to the Cherokee above the current perforations in the formation. We will perforate in the Cherokee from 7410-7416'" Taken from document on Cogcc. A notice of intent. The best thing Rick could do is lower his wage bill and get rid of the dead weights. Get someone with know how.

I think these shares would be a transaction between the family of the largest shareholder. It has happened before and was announced retrospectively but now he is not on BOD. Another $1 million paid in salaries since last RNS mentioning RBL so what is the rush. They have even got someone else to do the work.

I agree it is confusing. Grand Mesa is down as operator in a few places. I do not think it is a mistake by Cogcc rather a problem with Hawks communication as usual. I would like to think they are using Grand Mesa know how to investigate the LKC. However if you have little faith in your own production team and they are highly rewarded then it might be time to get rid of them.

Salen is listed under Grand Mesa wells for Washington county. It also shows up on Cogis maps as operated by Grand Mesa. It is listed under Hawk wells for Washington county but it shows Grand Mesa as the operator. I tend to believe Cogcc has not made a mistake (thrice). Could be wrong but it is certainly odd.

Strange that shareholders are not informed. What is the agreement?

Just noticed that Salen 14-35 (which is shut in) is now listed as being operated by Grand Mesa operating company according to Cogcc. Perhaps Rick has given up on Chuck and his team. Didn't bother to tell shareholders.

I posted those figures just after waterflood was started and so they would be out of date now. As a snapshot : in Sept 2017 the combined oil produced with the water produced was 34,273 barrels. With injection wells aiming for 3,000 barrels a day of water it can be seen one third of every months injection is lost filling up what has been voided in oil and water production. Where does all the water go? Crested Butte 2-14 is outside Arikaree Creek. This well has seen oil production rise by about 50% since January 2017 whilst water production has risen more than 10 fold. Perhaps that is an answer.

I do not know. Not good for small shareholders probably. I think he should be held partly responsible for the fall in the share price as he was on the BOD.

from the BOD in the form of utter contempt. Shareholders are now given the minimum of information so they cannot observe the mess these people are making of the company and its share price. For two years or more we are told waterflood is the main focus of the work being carried out and now not even a mention. Not even gobbledygook about oil/gas ratios and minute increases in production and a rise in pressure at the water injectors. This company exists now for the sole purpose of paying outrageous salaries to incompetents. These people do not have a cunning plan. They care not for shareholders.

I think you were right the first time

"Management estimates recovery of 1.5 to 2.3 Mmboof additional oil recovery during life of project". Todays update is lower at 1,239 barrels. Waterflood is supposed to get this oil out of the ground at an accelerated rate. I think the management suggested eight years. That would be 154,875 barrels of oil per year or 425 barrels of oil per day. That number sounds familiar. Not much more than what would be produced by the southern Arikaree Creek wells pre waterflood.

Grand Mesa are doing well with the LKG north east of Arikaree Creek. I think it could attract or encourage a possible buyer/partner for Nighthawk if things go belly up. I cannot see the present outfit drilling again and if they did would you trust them? Output at the moment seems irrelevant when compared to the debt struggles. Even so I would be interested to see Sept production figures for Salen and waterflood. Late November and we are still in the dark for Sept figures!

Rick must live on a different planet :"and has provided a significant amount of financing to support the Company's growth".

I think he is perhaps putting some distance between himself and the company. If the company goes belly up he will not be a director of a failed company.

The trouble with Hawks production figures is that we will have to wait two or three months to see what happens for the present month. The important thing to bear in mind is that Grand Mesa have found good oil in the Lansing-Kansas City and this has prompted Hawk to reassess Salen. I think originally Hawk only had eyes for Spergen and as a back up Cherokee and Marmaton. Complacent as ever. If Hawk find no more oil at Salen in the LKC it still means that the area will attract potential suitors because of the good work by Grand Mesa. As at Monarch the brains at Hawk failed to see an up hole opportunity.

The remaining Monarch permits have expired. I do not think it would be a big deal for either Hawk or the Farmee to get these permits approved ag in as the same parameters would still be intact. Knowing Hawks recent history I think the Farmee would be maybe make their own choice.

Is that $160,000 by end of 2018 maybe. Did Hawk pay $500,000 to Cascade to get away from Monarch and a $75,000 extra forfeit? Did Hawk not blow $10,000,000 on the JV? Who negotiates for Hawk? I bet that debt bubble of $40,000,000 is just about to burst and disappear.

I think there is a $200 fine for not reporting the figures by the due date. I do not think Rick would be too worried about wasting the money as it will be paid by the company. He and his team have managed to reduce the value of the company by �100million, so why not another $200. Sums up what he has done for the last few years.

is because of the greed of the people feeding at the trough. When Mr R. McCullough benefits by $320,572+ and Mr C. Wilson benefits by $369,600+ and Mr J. Claesson earns tasty returns on his loans why stop the frenzy. Only a fool would call time on the beanfeast.It is easy to see why incompetence is ignored. Sorry to see everyone giving up but it is understandable.

is the last of the wells permitted for the JV to expire (21/10/2017). In the two years since the JV bit the dust all the Monarch JV permits have expired. Cascade have not been tempted to initiate a drill in the area. Just to the north east of the Monarch area Grand Mesa Operating Co. have 3 permits pending and 1 drill underway. They are now drilling to the south west of the Keystone area and north east of Arikaree Creek and must have their eyes on the proved assets held by Hawk. Meanwhile Hawk has a market cap. of �2.9million and debts of about $40million.