it was in October last year the announcement that Wolf Pack started pad construction.and Juanita was also announced in the same month. That's approaching a year since any new drilling plans announcement.
Add to that no monetisation announcement and a buy back progress that seems to have irritated more peeps than it has pleased, and you can understand the less than joyous posts that often appear here.
This mood of frustration has been exacerbated by the fact that WP knocked it out the park, Juanita was a successful proof of concept, and the coffers are overflowing, and the oil price is looking healthy.
So the company is going full steam ahead to build on this position? ........... no!
So the management are not mugs, they don't want a share price so low, they don't want a company that effectively has knocking on half its market cap held in cash, they want to use it to drill. They know how to drill, they've done plenty of it in record time.
So why the standstill?
Is it to gather new drilling intelligence as suggested?
If so when and in what form will that intelligence gathering bear fruit?
That question has been posed here many times but I'm more interested in the time frame
Brookside has foregone drilling and foregone the opportunity to get another WP on the board and as of this moment nada in this respect announced.
These big Swish wells can pay back in less than 6 months. Look what a difference WP made to the books.
So in my opinion something is bound to happen very soon. In an earlier post last week I suggested 2 months at the very outside.
We'll either see a form of monetisation announcement or a new single Swish development well
The company simply must drill on its own or else it must sell/jv............ the old sh*t or get off the pot story
WP is our star striker, the heartbeat of the team, but star strikers get older and have be replaced.
I know this post will be contentious but hey. what's new about Brookside posts these days
(20min delay)