Pump and dump. Initial results were good for onshore but these wells in Thailand dropped off quickly with production. Got to remember we were targeting volcanics which behave like unconventional shales. Production drops off and you need to reinvest in new wells to maintain production. Once well costs, royalties and other overheads were accounted for not much or nothing ended up in the accounts in Australia. Hence the move to sell out once reserves were established.
Anyone Remember Why CVN was $2.40 in 1994?, page-4
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