Reaper, you didn't really say anything that I have not already said except for this nonsense:
I am not joking about “fluctuations” in month to month TRRC production numbers. I have seen oil wells go from 300bopm to 1,500bopm and back again without any rhyme or reason, which is why I continue to say that stock traders don’t benefit by wasting their time looking at the TRRC filings.
I don't look at only production. The fact that you don't know why a well would do that, doesn't mean no one does. But don't feel alone, CF doesn't know either:
Dallas, Texas – March 6, 2014 – Breitling Energy Corporation (OTC:BECC) (the “Company”) announced that its previously reported new oil discovery in Taylor County, Texas, the Teaff #1, began producing on February 11, 2014. The well has averaged 40 to 50 barrels of oil per day while pumping only 6 hours per day while the Company expands its onsite production equipment. The Company originally announced the well could be capable of producing 110 BOPD. However, at its current rate, the Teaff #1 should be able to produce over 160 BOPD. The Company will continue testing the well while monitoring pressures and fluid entry. Breitling’s Chief Geologist, Joe Simo and consulting geophysicist, Gerald Holden believe the Teaff #1 has 3 to 4 offset locations.
“We are very pleased with the current results of this well and hope we can expand the daily production flow in the near future,” said Chris Faulkner, Chief Executive Officer and President of Breitling Energy Corporation. “We hope to drill this acreage out by the close of 2014 and expand the field’s production along the way.”
For more information, visit www.breitlingenergy.com
I don't really care about traders, they can do what they want and I wish them success. If investors had paid attention to reserves, they might have avoided paying $30 a share for GDP. The importance of the Teaff with regard to BECC is that it is one of many examples of when what CF said does not line up with what happens. I know you like to come of with excuses, but excuses don't add up to industry leader.
As far as the Teaff #1, the company stated at the time that a disposal well was needed. I am pretty sure that everyone understands that there may have been some water involved that needed to be disposed of. That is not really rocket science.
Right, predicting future production from a well isn't either, it's reservoir engineering.
