Dear readers, you are the smartest kids in class!
Today’s gold star goes to Anonymous Reader who sent me a different Ursa PowerPoint presentation than the one many of us watched on Tuesday. This one was presented at the IPAA (Independent Petroleum Association of America) Private Capital Conference on January 24, 2012, by Matt Steele, Pres/CEO, Ursa Resources.
Here is Ursa’s real strategy unfiltered by PR bullshit.
Anonymous Reader had this to say about Ursa: “They say they pulled out of the Bakken because they couldn’t compete with the big boys. That’s a message that probably plays well here, it flatters us that our area is friendlier and folksier, but it’s at odds with the message they were conveying to a private equity audience in January. Their message in January was that their strategy in the Bakken was to get in and out for a quick profit, and that they’re looking to do it again elsewhere. They are speculators in what has become a natural gas asset bubble.”