Thursday, February 16, 2012

February 16, 2012 Edition of the Stateside Report

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1 comment:

Worldly Trader said...

Vince, you have done a great analysis of today's news release from Blackbird Energy and Pennant Energy. You put forward several important issues regarding the third Montney well that were not covered in these news releases.

Blackbird Energy's Annual General Meeting is next Tuesday, February 21st. I will be there. I want to whether they have figured out the problems that made the second well a failure. I would like to know what is the specific mechanical problem that stopped the other stages of the hydraulic fracture from not working. I also want to know if they have strategy to stop the problem from happening again.

This is a very important issue since each extended length horizontal well costs about $5-8 million to complete. A lot is riding on this third well. If the third well fails this could be the end of the future prospects of all three companies.

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