NOG Reports a Couple of Great Wells

I'm traveling so my notes will not be as long as I would like.

NOG presents an update with two great wells: Stallion and Sniper, 2,753, and 3,784, respectively. Of the many opportunities to invest in the Bakken, the companies I tend to accumulate shares in are CLR, NOG and ENB. Others that I like, but just not enough cash to go around: KOG, St Mary, WLL, EOG, maybe BEXP (a good trading stock?), MDU.

Again, we all know the discussions regarding IPs, 24-hour flowbacks, etc., so for newbies, the above production rates will decline horrifically. Having said that, the Stallion well has produced a total of 119,166 barrels of oil equivalent ("BOE") over 125 production days, according to the press release. At $50/bbl, that is about $6 million and should just about pay for the well. NOG holds a working interest in both wells: cash up front and that's about it for NOG expenses.

I have held shares in MDU in the past and will do so in the future.