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QIS Update #23 2012 - September 7th 2012



 

QIS Update #23 - September 7, 2012  

Included in this update:

  • Blackbird Energy reports test results from its third Montney well at Bigstone
  • Virtutone Networks announces closing of non-brokered private placement


 

Reminder of our upcoming Small-Cap Conferences this Fall in Calgary and Vancouver. The Calgary conference will be held on Tuesday, October 9th and Vancouver is scheduled for Tuesday, November 6th. We know the markets have been challenging but there are great opportunities out there at present and many underfollowed and underappreciated companies need the exposure to tell their stories. We require 1-2 additional companies to participate at each conference in order to make the events as successful as they can be. If anyone has referrals or knows of a quality company that is looking for quality exposure to investors, we would appreciate hearing from you. Investors can register for the events at www.smallcapconference.ca/register.php.

 

The QIS Trading Summary hit a new gain today of 24% for the year-to-date (annualized 35%). The QIS Trading Summary tracks hypothetical trades made by the management of QIS Capital at current trading prices and volumes. You can view recent trades to the portfolio at www.smallcaps.ca/trading-summary or you can view the current portfolio at www.qiscapital.com/images/portfolio.pdf

 

Please feel free to email us anytime at info@qiscapital.com or call us at (250) 377-1182. We look forward to your comments, questions, and feedback.


 

Blackbird Energy Inc. (BBI:TSX-V)
Website: www.blackbirdenergyinc.com
Current Price: $0.10 (coverage commenced Aug 19/11 - $0.18)

 

Blackbird Energy Inc. has recently provided a Bigstone operations update.

 

DEI Bigstone Hz 13-33-60-22w5, (Blackbird 12.5% W.I. subject to a 2% GORR): the production tubing string has been installed in the well bringing the final phase of well completion operations to a close. The well is now ready for tie-in to the Donnybrook operated Bigstone pipeline system. Construction of the surface facilities and 1,300 metres pipeline installation is anticipated to commence in mid October with an estimated on-stream date of early November. Blackbird has fully funded its share of the AFE’d facilities and pipeline costs.

 

The well was flowed back for a period of 32 hrs and 15 minutes after the installation of the tubing string. The average flow rate during the final 24 hours of flow back was 2.87 Mmcf/day (BBI net - 0.36 Mmcf/d) and 510 bbls/day (BBI net - 64 bbls/day) of condensate and load fluid. Approximately 75% of the load fluid used during fracing operations has been recovered to date. The 13-33 well was drilled to a total measured depth of 5,336 metres with a lateral length of approximately 2,600 metres and completed with a 23 stage frac.

 

QIS Capital Comments:

 

Finally some of the completion and testing results that many investors have been waiting for. While numbers weren’t as high as expected, we have had it explained to us that the partner companies are planning to produce the well at rates fairly close to initial flow tests. Neighboring wells, while having much higher initial tests, are producing at rates fairly consistent to what the 13-33 flowed-back. It is also important to note that the liquids production was very encouraging as this is where the bulk of the money from these wells comes from and what makes them attractive drilling targets. The next press release from Blackbird should be released in the next few weeks with regards to the Ruger acquisition. This is an integral step in the company’s development and will set the course for future operations. We look forward to receiving more information on the target acquisition company as well particulars for the proposed share exchange.


 

Virtutone Networks Inc. (VFX:TSX-V)
Website: www.virtutone.com
Current Price: $0.35 (coverage commenced Sep. 9/11 - $0.10)

 

Virtutone Networks Inc. has announced that it has closed its previously announced non-brokered private placement. Pursuant to the private placement, the corporation issued 1,500,000 common shares of the corporation at a price of $0.20 per share for aggregate gross proceeds of $300,000.

The common shares issued pursuant to the private placement are subject to a hold period of four months and one day from the closing date as well as other restrictions with respect to sales from control positions.

 

The proceeds of the private placement will be used for general working capital and corporate purposes.

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Disclaimer: This article is for informational purposes only. The information contained within this article should not be construed as offering investment advice. Those seeking direct investment advice should consult a qualified, registered, investment professional. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The company profiled assumes no liability for the information presented. This is not a direct or implied solicitation to buy or sell securities. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. The author(s) owns directly or indirectly 127,500 shares and 450,000 options of Blackbird Energy Inc. and 909,000 shares of Virtutone Networks Inc. QIS Capital may have a financial relationship with these companies and may trade in the stocks mentioned. No stock exchange has approved or disapproved of the information contained herein. Copyright © 2003 - 2012 QIS Capital Corporation.

 

 

 

 

 

 

 


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