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Flairs Can Tell Us Something about a Well, Buccaneer Brings in a Big one

|Includes:Apache Corporation (APA), COP, DVN, RDS.A, XOM

I have been running around the Oil and  Gas business for most of my professional life.  It has been an uphill battel to make a living and at some times we do everything right and it still goes wrong.

Over this period I have worked in the very far reaches of Alaska, drilling wells that might work but are miles from anyone and take us months to get drilled and then hooked up to anything that might take them to market.

Because of that, I have a real soft spot for this little Australian company, so many miles from home that is really trying to make "big" things happen up here in Alaska.  Just a few years ago, it seemed we were doomed to the whims and budgets of BP, Shell, Chevron and ConocoPhillips before we could make anything happen.  

Now we have several operators that while small, are really committed. Buccaneer Energy being one of them.  A couple of days ago, I received a link to a video that was taken from the Wal-Mart parking lot of the flair attached to the Kenai number one well for Buccaneer.  Remember my prediction, the well was at least 2 million and maybe as much as 9.  Their recent release tells us it is closer to 10.  But if you listen to this flair, the roar that it is making.  My experience tells me this is much, much more.

Listen to the depth and the volume, I would be surprised if this well came in under 20k.

Check out the video.

www.youtube.com/watch?v=6A14hvOWQhE

And remember this was taken from the parking lot of a Walmart.  This baby is a real barnstormer.



 

Stocks: APA, RDS.A, XOM, COP, DVN