Disappointing announcement :( :(
Very much a holding announcement for now.
Obviously they have water issues with both J-53 & J-55 need to see what happens with them by the time the Q1 report comes out. See if they have managed to reduce the water cut and know its source.
It might be easier once they have J-58 on production as that will be one less well to deal with, as 4 wells seems to be a logistical problem and must be stretching there resources.
One think the report does make clear, equity finance is not on the cards. Pity the CPR is being held up so much :(
Will be interesting to see what J-58 does on test, hopefully we'll get results in around 10 days.
LOTM
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