Wats, yeah, I saw that 0.46 order... Put your order at 0.45 so you can be sure to get closer to the front of the line! I had to chuckle a bit as I thought my 0.20 order to break-even was wishful thinking. :) Had it there for a month or so, and will probably leave it there indefinitely.
On a more serious note, I called Fastway Exploration about two weeks ago to speak with Bob Bateman. Unfortunately Mr. Bateman was ill at home, and the fellow I spoke with suggested that Mr. Bateman had been working too hard that week. He did offer to fill me in on the activities of Dynamix.
I believe they're just getting the 4th well at the Greasy Creek project online now, so to correct one of my previous posts (based on earlier news releases), this program is complete with four wells. I believe the 1 MMcf/day production that was announced only represented the output of three wells. The fellow indicated that this will provide US$3000/wk revenues to the company. (Is that about right? 1000 mcf/day x 7 days x 25% WI for DYX x US$2.25ish/mcf?) A further 4-well program is planned for this summer.
As far as Fastway Exploration, he said the last winter was admittedly much slower than expected (for the entire sector), but they anticipate that things should be right back on track in the coming season.
I asked about Richard's departure (wanted to get a sense of the circumstances), and he indicated that "we couldn't afford to keep him anymore". He is, as we all know, still a director, which is at least a positive thing since he knows the company well.
Further to the reduction of costs, I confirmed that the former phone numbers are no longer in effect, along with the downtown office in which Dynamix resided. The impression I got was that Dynamix will operate out of the offices of its wholly-owned subsidiary (Fastway) from now on (just south of downtown Calgary), thus reducing overhead costs and increasing efficiency.
If/when I get the chance, I'll try and contact Mr. Bateman for a fresh update. My sense is that we may actually see a positive EPS this year yet... maybe I should up my offer to 0.40! :)
I wish Dynamix would buy an internet/e-commerce company. :) Check out SKG... it's a shell with a gold-mining past. I owned the silly thing since 0.08, held it for months while it was at 0.02-0.03, and finally bailed at 0.03. It recently shot to as high as 0.495 after announcing it had purchased an internet business. But I digress, and I apologize. I am not trying to compare DYX to anything else.
Ben |
