Wednesday, February 22, 2012

February 22, 2012 Edition of the Stateside Report

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1 comment:

Worldly Trader said...

Vince, I attended the Annual General Meeting for Blackbird Energy yesterday. It was a bit scary that I was only person and shareholder there besides the CEO, Garth Braun and the company president, William MacDonald. Garth said that it appears that there was not sufficient nitrogen used in the fracing process.

This seems to be the mistake of the completion operator. They will be using a different company for the next well. Though they raised a little over $1 million in an unsecured loan arrangement, these funds will be used for pipeline infrastructure. They will need to do another financing for the third well.

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