I have been following this one since the last activity period trying to get a pulse. It is currently trading at the low price levels on the tail end of a very good well with Gulf Resources. The new well was very positive for the company and had a negative impact on the price. It appears to be an good buy at current price but could go lower. New cash flow from the last well should have a positive effect.
News Release Feb 06 CNW
CALGARY, February 6 /CNW/ - Inspan Investments Limited (ASE: INY) ... Inspan Investments' 10 percent interest in 385 barrels per day of production
increases its net oil and gas revenues on an annualized basis by in excess of
$200,000, which is 467 percent of the $42,800 in revenues, net of royalties,
production and lease expenses, generated in fiscal 1996.
The well has commercial natural gas in the Mississippian Shunda
formation. A decision on producing this zone, possibly by twinning the
existing well, will be announced shortly, and will contribute further gas
reserves and revenues to Inspan.
Inspan Investments holds a 10 percent undivided interest in the 12-29
location. Gulf Canada Resources Limited, the operator, has an 80 percent
interest and Prairie Pacific Energy Corp. (ASE:PRP) holds 10 percent.
Inspan has oil and gas producing and processing interests in north east
British Columbia, and a strong land position with prospects in Alberta and
British Columbia.
End of News Release |
