-
Share
5,038 Posts.
454
09/04/14
10:09
Share
Cloak, if it had been an issue you would have heard about it from the company long before now.
Yes the production numbers have to be adjusted in Jan & Feb and maybe a little for March to, to get there true productive capabilities.
As for new wells - no permits submitted as at 7th April 2014.
So no outgoings on explorations for the whole quarter.
I'm sure the higher nat gas prices, will have helped the bottom line overall.
However the simple facts are that Debnam22 even after repairs is going to be an uneconomical well.
More data is needed on Cozart 11, but the initial read is that it's an average well at best, and could get revised downwards from there.
Right now, on what we can see, turning down $300M was the wrong decision.
LOTM
-