Lynden released its MD&A for the six month period ending 12/31/11. It appears that Lynden Energy Corp. has made production increases over the last month or so. Stated average production as of 12/31/11 was 471 boepd before royalties. The company's production exceeded 500 boepd after royalties for several days in January and February meaning their before royalties share of actual daily production was around 650 boepd. Production is finally catching up to Lynden's drilling activity as several wells that were completed are now being tied into sales. We expect production to increase further as additional completed wells are tied in.
Industry activity seems to be heating up in the areas where Lynden is active. Devon is active in the Wolfcamp west of Lynden's Mitchell Ranch and Apache is working on lands adjacent to the Wind Farms acreage. As acquisition activity increases, Lynden should be in an excellent position to capitalize given their quality acreage.