Sana, you might like to look at AWE when they announced first oil at Tui (~18,000 bopd for AWE's 42.5%), sp around $3.05. They had been trading at $3.67 exactly one month earlier. Production steadily ramped up from there (AWE's share to ~22,000 bopd) and AWE went back up for next month or so to around $3.60 again, before steadily falling for another couple of months.
All of which just goes to show strat's answer is pretty accurate; it's impossible to predict these things because of different mkt caps and a vast number of other variables, especially around mkt sentiment and other 'unmeasureables'.
I this case OEL & NDO will join the ranks of producers for the first time. AWE (much larger cap) was already one.
first oil flows, page-7
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Last
1.2¢ |
Change
0.002(20.0%) |
Mkt cap ! $57.54M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.2¢ | 1.1¢ | $33.35K | 2.872M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 7302979 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.2¢ | 6885321 | 6 |
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| Last trade - 15.34pm 30/07/2024 (20 minute delay) ? |
| OEL (ASX) Chart |