*2 new fields discovered.
*Flax-1 stimulated successfully, with the bonus being a new pay interval has been found (but more info needed)
*Juniper-3 successfully drilled, pay intervals found. Now needs to be stimulated.
*Unconventional wells going ahead as planned, flow testing to start in Nov.
*Production above my estimate (happy to be, the Eastern field produced well above what I expected, albeit still nothing compared to the eastern flank).
*Average oil price of $114, I bet the U.S producers would love to have that.
*Cash balance increased by $17.1 million, even after paying AQO shareholders $0.05 per share and completing the T/O (AQO had $4.8 million in cash, so if they had not completed the T/O, cash would have risen by another $7 million, or over $24 million)
Lots of wells still to come.
DLS is IMHO, the best pick in the Cooper right now. But I do hold others, just not as much.
DLS Price at posting:
$1.16 Sentiment: Buy Disclosure: Held
