InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,222.68
(
0.16%
)
US TECH 100
17,659.60
(
0.11%
)
Dow Jones
39,512.84
(
0.32%
)
Brent Oil
82.59
(
-1.63%
)
Bitcoin
60,837.10
(
-3.51%
)
Post# of 3604
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

hamilton

Send PM Follow Ignore
Followers 4
Posts 159
Boards Moderated 0
Alias Born 08/18/2002

hamilton

Re: hamilton post# 3566

Tuesday, 11/15/2016 11:14:32 AM

Tuesday, November 15, 2016 11:14:32 AM

Post# of 3604
The 10Q was filed today and provides a bit of an update along with the obvious implied going concern warning.

"In June of 2016, Citadel completed its facility upgrades; the new facilities have production capacity of 500-700 BOPD. Citadel drilled three wells in June and returned to production 9 idle wells. Production from the new wells continues to increase as the wells clean up. As of November 15, 2016 the Company was producing 50 to 75 barrels of oil per day. The Company is currently working on purchasing and or renting a steam generator, to begin cyclic steaming operations in the 4th quarter of 2016. The Company believes that cyclic steaming of the existing wells, should double its current production."
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up