Hi all,
POE have just released their First Quarterly.
Nothing really new, but some comforting reading......
"Pan Orient's base capital budget for 2009 will be approximately $60 million, with 57% directed towards exploration and development in Thailand"
"The Thailand 2009 capital program of $34 million includes the drilling of 29 wells, site upgrades and workovers. Drilling will have a balance of development drilling targeting new production, and exploration defining potential new reserves. Production is expected to average 7,300 barrels per day for 2009."
http://www.marketwire.com/press-release/Pan-Orient-Energy-Corp-TSX-VENTURE-POE-992341.html
Do however love to see 7300 bpd (Net POE), for whole of 2009
My calculations make that about 4850 bpd net for CVN.
Some may see that as falling short of the mark, but as others have said before, at prices under $100 a barrel, don't sell it all too soon!!
4850bpd for 2009
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