PVD, thanks for the post.
On reflection, i tend to agree with most of your post. Projection of undeveloped projects could not possibly be included in the forcasted production figures.
So when current wells in development are completed and put on production, all planned future drills will cease and exploration will be minimized.
Wheather that is prudent or not is debatable.
Leverage says TB is playing a strategic game.
I think TB and SSN have no choice in the current climate and have their backs to wall.
But its a double edged sword.
- No new wells means no increase in production
- Declining wells
- Admin and production costs eating all revenue
- Draw down facility almost used up
- When will the WTI increase to make shale proiftable again?
Nothing we all don't already know.
Long term planning of SSN is non-existent. Apart from hedging a few dollars here and there, no long term strategies seem to be in place.
As I said spinning wheels.
But Leverage, I admire your patience. Please enlighten me on the positives apart from the AGM results.
SSN Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held
