A few weeks ago we had a spirited debate on Sunshine Pumping. Here is a classic example. "So they're not drilling, no big deal, maybe they don't want to" IMO, it's a VERY big deal to:
1. New investors we all hope get attracted to ALRY during the Awareness Campaign. New investors doing their DD will see ALRY's past PRs about drilling andd wonder what happened. Believe me. Talk about the Biblical Floods will not get much traction with a new crowd. They are looking for results, not excuses.
2. Analysts that may consider covering ALRY. Drilling new wells is an easier sell than working over dozens of 2 - 3 bbl/day stripper wells. NOTE. I'm certainly in favor of ALRY's stripper well efforts, but not at the exclusion of drilling.
3. Most current investors desperatly want to see some of those promised wells drilled. Not all of us want our money to be static for many more months.
4. I'm sure it's also a big deal to Allenergy Inc. Two 32 bbl/day wells would equal total 1st Q production. It looks to me like most of their new leases are focused on drilling for new production.
I suspect their lagging drilling program is related to them being a small player in a very busy drilling market. Larger operators always get favored treatment.
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