On the face of it, this is a surprising announcement since they appear to have decided to go straight to a production test without completing the logging. What Conoco are saying is that they believe the resource is there, the only question now is can they flow it at commercial rates. I haven't seen a decision like this in close to 30 years in the business and it is a huge vote of confidence in Poseidon. The rig rate, including contractors, support vessels etc is probably close to $1 million/day so to commit to another 20 odd days is showing serious commitment. You can also be confident that they expect it to flow. This is all good - sell at your peril.
vote of confidence
-
- There are more pages in this discussion • 18 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add KAR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.65 |
Change
0.003(0.15%) |
Mkt cap ! $1.293B | |||
| Open | High | Low | Value | Volume |
| $1.65 | $1.67 | $1.64 | $2.551M | 1.545M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 55030 | $1.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 31082 | 9 |
View Market Depth
| Last trade - 12.49pm 07/10/2024 (20 minute delay) ? |
| KAR (ASX) Chart |