It would be great for the JV to be with someone who actually has the skills required to find and produce oil as well as the money to drill - Approximately 1,200bbls were produced by CIG across this field over the 6 month period is not a great result. I wondering if CIG are holding out for more than 50% in this JV - I would of thought with summer coming they would be keen to start drilling as well as complete the flows for the Mailisu 3 #6.
I was looking at CIG's website and had a quiet chuckle to myself: Caspians objectives are to:
1. Maximise shareholder value through exploration, discovery and production of oil & gas; and 2. Operate with a high social, environmental and ethical awareness.
I am still waiting......
CIG Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held