03
Apr

Contango Energy – Double Dutch Treat

Print Friendly

Contango Oil and Gas (MCF) announced a sizeable second well at its Dutch discovery in the Gulf of Mexico.

  • This brings net reserves in the prospect up to 45 Bcfe relative to the 34.2 Bcfe they had booked for the entire company as of year end 2006.
  • (MCF) has a 29% net revenue interest in Dutch. The #1 well tested at 14 Mmcfepd in Noveber and should have been online in January and is now flowing 35 Mcfepd gross (10.15 Mmcfepd net to the company). The #2 could be online later this summer and the #3, a 2,200 foot stepout is set to spud in May.
  • This is a very interesting company with huge plans in the deep shelf Gulf of Mexico, the Fayetteville Shale, and in an LNG terminal due onstream 2008. Little debt and only seven employees and little apparent need for additional financing.
  • Unfortunately it had fallen off my radar screen long ago and was up >7% in the after hours yesterday by the time I “rediscovered” it. I won’t chase anything in this market. Once things settle down a bit I’ll be looking to begin building a position here. Sorry options guys; they don’t have any.

12 Responses to “Contango Energy – Double Dutch Treat”

  1. 1
    home-improvement.plinfoblogs.org 18 Says:

    home-improvement.plinfoblogs.org 18 45…

    Hi! http://gps-system.ioinfoblogs.org/13.html . Thanks!…

  2. 2
    Zman’s Energy Brain » Contango Oil & Gas – Still Undervalued Says:

    […] the stock has had since announcing it’s second successful well at Dutch back in early April (when I first highlighted the company ) I can almost get to the company’s current valuation (TEV = $510) by only […]

  3. 3
    Is there a secure.wikimedia.org way to use commmons? Says:

    Not floating “main” results in it being under the “menu”.

    I dont suppose anyone knows the name of a word that sounds like how its spelled, like, energy = nrg. They say that one day, there will be no black and white. It will all mix. Is this good?

  4. 4
    Free sprint pcs ringtones for a680 samsung cell phones. Says:

    Free sprint pcs ringtones for a680 samsung cell phones.

    Free sprint pcs ringtones for a680 samsung cell phones.

  5. 5
    Iuuper Says:

    Ok! Best regards!
    Is cool and to say hello.
    Thanks.

  6. 6
    Grad Says:

    Ok! Best regards!
    Fabulous Website!
    Fine!

  7. 7
    Homecoming queen dresses. Says:

    Homecoming queen dresses.

    Homecoming queen dresses.

  8. 8
    Chocolate coffee gift baskets. Says:

    Chocolate coffee gift baskets.

    Chocolate coffee gift baskets.

  9. 9
    Dental plans from western dental. Says:

    Dental plans from western dental.

    Dental plans from western dental.

  10. 10
    Patio fireplaces. Says:

    Patio fireplaces.

    Patio fireplaces.

  11. 11
    Stores that carry alviero martini handbags. Says:

    Stores that carry alviero martini handbags.

    Stores that carry alviero martini handbags.

  12. 12
    Ladner limousine reservation. Says:

    Ladner limousine reservation.

    Ladner limousine reservation.

Leave a Reply

You must be logged in to post a comment.

Zman’s Energy Brain ~ oil, gas, stocks, etc… is is proudly powered by Wordpress
Navigation Theme by GPS Gazette

s2Member®
Get Adobe Flash player
%d bloggers like this: