looks like an entire revisit of the Flat Castle plan in NC Tioga co. Pa. the long lateral plan is too much for a new conservative management team and a company that has lost so many key employees that showed cutting edge technical skills under Ben Hulberts leadership. we all owe the old Eclipse a nod for bringing the whole e&p industry an incremental step forward. Montage is already setting up to be just another follower. sad day for technical risk taking and very cool engineering challenges.

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some clarity emerges via conference call. Monroe Co. is where Montage will focus two rig program. regarding my hunch on Flat Castle sale. they exude all happy over the acreage while planning to "target acceleration of value". Reinhart was pinned down to explain and gave an example of seeking a" working interest partner." sort of a halfway. if a cash buyer isn't out there then that's a way to get cash flow sooner without cutting into their budget plan. now we'll see if the bait can get a bite.

How much of that Montage land is actually worth something ? 

 Washington County OH seems questionable to me .....

a question was asked concerning third tier acreage and was kind of glossed over. Mar. 20 a more detailed presentation is scheduled. it will be entertaining to hear Tolmachev tow the new line. this is Encap's plan to reduce cycle times for boosting quarterly reports, which is the stock driver. 180 from Hulberts vision of well IRR's. market doesn't care about the out years. related to valuation in the Flat Castle. Encap's in via Travis Peak around 100 mil. that was "given" to Eclipse. Hulbert's deal with the devil. Eclipse spent say approx. 30-40 mil on Painter 2H and water impoundment and some leasing. BRMR took this gift, Reinhart's deal with the devil. somewhere say 100mil in secondary term extentions are due over the next 12-18 mos. hence the box termed "acceleration of value." ? for Encap is, do you walk or do you play?

very questionable...

what is questionable?

Hi, guys, I got a notice of a new posting on this page today.....Funny, it's the first notice I've had since I posted on page ONE. I wonder why I'm not getting the notices?? It's everywhere on this site, some kind of Gremlin. 

Anyway, I really enjoy reading your insights (what I understand of them anyway!) We're just south of Wellsboro, leased to Shell, HBP. My husband got bored with retirement (and honey-do lists!) and got a part-time job guarding for JKLM in Potter Co. 

We will wait and see....

NFG is in a different game ... 

 That western area is lease fee free ... That gives NFG a 12 to 20% advantage over the competition ...  

don't miss their water  system to and from Clermont treatment facility as well. no trucking costs. also short sand haul via Emporium rail. they show a low cost operation even without fee acreage in that lower producing play. they believe they can profit in a higher cost structure such as DCNR lease, with higher production to compensate for higher costs. a water system on the DCNR lease would reduce cost. they have a produced water evaporator off compression waste heat for some trucking cost reduction. most still have long sand haul issues. just illustrating many potential variables between production and costs that can determine profit.

I always watched NFG , despite all their positive moves the share price hasn't really budged over the last several years ......

 The same can be said for all  other Appalachian Gassers , in fact NFG has held its own while most others have continued to trend  lower.............

 PS .I enjoy your insights in your 'backyard' 

i have mentioned how poor these investments are and have been. i say it again, compare to Ulta beauty products. up 7500% since 09. this isn't an investment forum, but anyone with a desire and a several thousand dollar committment to trading tech. can compound cash into alot more. set emotions aside and let the machine do the work,just like the pros, that fleece the pockets of retail investors everyday. if they aren't moving up or down,they can't be used as a cash compounding mechanisms. there's a reason the VIX index is so closely watched and used as part of programs.

Energy been tough investment for a few years .... I work hard at it and overall am pleased with the results [ to date ] ...

 Little Birdies last week  in NYC spoke  of one shale basin left undeveloped in the US , when pressed these well known 'birdies' clammed up and changed the subject ...... 

 Speculation on the 26 th floor of a big Investment house ran the table as to where the next 'big' play could be ... No one  knew for sure ....... 

 Rogersville has been a dud , COG struck out in OH , we shall see .... 

we see almost daily in NG news the water cost issue raised. there are new companys starting up to supply  lower cost water solutions. as yet we haven't seen suggestions for sand hauling cost reductions other than rail proximity solutions. we used United Conveyor systems forever in power/gen to move flyash, both in dry form and hydro-slurry. sand being heavier would lend well to a hydro-slurry conveyor via common water line delivering both frac water and sand through line purging selection. let's see if we hear that someday. 

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