Dan,
There is a comment on the Seaport STACK presentation on page 8 that says in part "post disappointing Holiday Road results". I am under the impression that the results of the Holiday Road well have not been published. The info on that well that is in the most current investor presentation from GST is the same as what was in their conference call. Is the daily peak production rate of the Holiday Road well available somewhere?
GST
Re: GST
We don't know the post flowback results of the Holiday Road well. I'm sure they aren't as good as the Deep River well, which is a very good well. Gastar will update the Holiday Road well when they release Q2 results.
The main thing to remember about STACK is that there are many productive zones. My take is that the Meramec is the best zone in the SW part of Gastar North Stack area and the Osage and Oswego are the best in the NE part of it.
Did you notice on slide 10 that Gastar's five-well drilling program is under way and that they are drilling an Osage test (McGee 20-1H) in Garfield County today?
You can see where it is on slide 8.
IMO the last bullet point on slide 10 is the most important for GST owners.
For those of you that own GST: Go to slide 7 and look at all the wells that Chapparal Energy has completed within Gastar's North Stack area. I believe those wells are completed in the Oswego zone. Chapparal has reported some outstanding results in the Oswego and the Osage. Also on slide 7, note all of the wells that Newfield and Payrock have completed near Gastar's South Stack area.
The main thing to remember about STACK is that there are many productive zones. My take is that the Meramec is the best zone in the SW part of Gastar North Stack area and the Osage and Oswego are the best in the NE part of it.
Did you notice on slide 10 that Gastar's five-well drilling program is under way and that they are drilling an Osage test (McGee 20-1H) in Garfield County today?
You can see where it is on slide 8.
IMO the last bullet point on slide 10 is the most important for GST owners.
For those of you that own GST: Go to slide 7 and look at all the wells that Chapparal Energy has completed within Gastar's North Stack area. I believe those wells are completed in the Oswego zone. Chapparal has reported some outstanding results in the Oswego and the Osage. Also on slide 7, note all of the wells that Newfield and Payrock have completed near Gastar's South Stack area.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
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bearcatbob
Re: GST
Dan - the superficial GST story is impressive. The reluctance/failure of the company to not be transparent on the Holiday Road well to me says legions about management. Give the troops the facts - good or bad. I guess we should simply interpret silence as an admission of failure with that well.dan_s wrote:We don't know the post flowback results of the Holiday Road well. I'm sure they aren't as good as the Deep River well, which is a very good well. Gastar will update the Holiday Road well when they release Q2 results.
The main thing to remember about STACK is that there are many productive zones. My take is that the Meramec is the best zone in the SW part of Gastar North Stack area and the Osage and Oswego are the best in the NE part of it.
Did you notice on slide 10 that Gastar's five-well drilling program is under way and that they are drilling an Osage test (McGee 20-1H) in Garfield County today?
You can see where it is on slide 8.
IMO the last bullet point on slide 10 is the most important for GST owners.
For those of you that own GST: Go to slide 7 and look at all the wells that Chapparal Energy has completed within Gastar's North Stack area. I believe those wells are completed in the Oswego zone. Chapparal has reported some outstanding results in the Oswego and the Osage. Also on slide 7, note all of the wells that Newfield and Payrock have completed near Gastar's South Stack area.
I want to believe - it is hard - very hard to believe in a management that is not transparent.
Bob
Re: GST
In this business there are going to be wells that are not as good as we all hope they will be. It comes with the territory. Just keep in mind that a single well completed in one zone does not condemn any leasehold in a regional play with multiple pay zones like STACK.
This morning I sent an e-mail to Mike Gerlich the CEO of Gastar, who is always good about getting back to me. I do not want to abuse our friendship by asking him for "inside information". His responses are in blue.
Mike;
Seaport report attached calls the Holiday Road well a "disappointment". Have you put out an update on the well? No. they must be basing this on our Q1 press release. Well production continues to slowly increase. We will come out with an update when we release Q2 results.
Seaport also says you have announced a five well drilling program. I have not seen that announced. No formal announcement. We will update with Q2 results, full year budget, and guidance based on equity raise. Seaport was involved in our equity raise and is levering off marketing and our announcement to use the proceeds to drill on our northern and southern acreage to derisk our holdings and to HBP acreage.
A lot of our members own your stock.
Daniel M. Steffens, President
Energy Prospectus Group
Houston, Texas
This morning I sent an e-mail to Mike Gerlich the CEO of Gastar, who is always good about getting back to me. I do not want to abuse our friendship by asking him for "inside information". His responses are in blue.
Mike;
Seaport report attached calls the Holiday Road well a "disappointment". Have you put out an update on the well? No. they must be basing this on our Q1 press release. Well production continues to slowly increase. We will come out with an update when we release Q2 results.
Seaport also says you have announced a five well drilling program. I have not seen that announced. No formal announcement. We will update with Q2 results, full year budget, and guidance based on equity raise. Seaport was involved in our equity raise and is levering off marketing and our announcement to use the proceeds to drill on our northern and southern acreage to derisk our holdings and to HBP acreage.
A lot of our members own your stock.
Daniel M. Steffens, President
Energy Prospectus Group
Houston, Texas
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group