Replies to post #1196 on Bedford Energy (BFDE)

[ChandlerBorn]

Grace #2 Blowout Aftermath

I can't help wondering where Bedford would be if that *#$&%(# Grace #2 hadn't blown out!

All the necessary equipment was in place to secure the wellhead for production when it blew out in the middle of the night, only HOURS before such a thing would have been almost impossible. Destroyed their cash flow, budget, and additional drilling plans for offset wells nearby.

AND, once the Grace #2 IS brought on line, the price of natural gas plummets from well over $11 to about $7!

Snakebit!!

Of course, until the final sale of Bedford's interests to Avalon, Bedford keeps garnering the profits from the Grace wells . . . . S'posed to happen sometimes this month as I understand it.