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I hope you are close to the mark Dana! I have a chunk in here and hope to retire very comfortably off it! I have already made enough for the Bentley but need a bit more for the house I have my eye on!
I hope the figure off 500bcf for Cascadura is correct, now who was it that guessed that figure? :-)
North seem to be holding this back in the UK with their profit taking, it must be a difficult task for the MM's to try and stay inline with Canada while accommodating this selling. It should become more balanced soon as the 4 month and a day Canadian restriction on the placing shares is up in 2 weeks time.
I think so too!
Looking through yesterdays trades there was a lot of buys put through as sells, there was a distinct price difference between the trades but all below mid to appear as all sells! They are collecting for someone or for themselves as they must be pretty confident like we are that the next move will a significant step up!
My understanding (and hope) is that the 2 zones of the first Cascadura well combined will bring this first well online at 9000boed ish on its own. The 2nd drill Cascadura Deep will add to this, maybe more so than the first as the intention is to get down another 2000 feet to the original target depth. And flow is money, surely they will flow it at the highest possible safely sustainable rate.
Considering many will have taken a position prior to the news that was expected this week yet has due to reasons beyond control been delayed the SP has held up well. There could have been more people sell due to the delay but the potential here must be creating a hold or buy scenario. I am not talking about the LTH's but the opportunists and traders, I am sure we will all be rewarded handsomely!
Looks like North have been feeding the market quite well while taking their profits, the silver lining around the delay is it gets more of their shares sold before the news!! And institutions that took part in placings making money off this share is a good thing for the companies credit rating!!
Have a good weekend peeps!
I agree with you Dana on the fact that this reduces the bargaining power of the NGC when it comes to negotiating pipeline contracts, if we don't have to accept their offer to fund the pipeline we can get better gas prices. a very shrewd move by the Bod!
I am going to stick my neck out with a bit of wishful thinking and say .5TCF! :-))
Worth a watch again while we wait.
https://youtu.be/rZAXHl5FuPw
Norb, North Energy are an investment company who are moving away from investing in oil, greener investment funds attract more investors so it is purely their business strategy to sell their current holding of oil investments. Nothing more sinister.
I agree puppy, yes it could be less than 6 months away but your post implied that current production is 395Boed which is not true, currently all production is suspended. There may be people making decisions based upon what they read here, speculate at will but keep facts accurate!