Hi EL & others...to your list of production problems at start up I can add Matrix Oil in around 2001 with its Indonesian wells. I lost a bundle after feeling very confident that they had come on line with good rates only to see wells shut in soon after (leaking manifolds or something), and the company become insolvent because of no contingency planning for cash flow shortfall and remediation.
The various bad experiences I have had with offshore production have taught me to be out of a stock until production is well and truly established. I fell for the trick here because I did not foresee water influx...another lesson learned the hard way. Pleased to see a bit of support today and still hoping for decent flow rate for NY when testing results are released and good results from exploration. This is a good company and is way way undervalued still IMHO.
regards DF
SAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
