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15.5¢ carnarvon energy limited

Ann: Loyz Deferred Consideration Settlement Update, page-9

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towie

35,149 Posts.

961

06/09/17

13:09

Post #: 27033033
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Originally posted by Cosmoterios ↑

The problem with Loyz is that their production has now dropped to 1,500 barrels a day (average), due to the natural depletion rate.

This is the statement I found:

"Revenue declined by 16.5% from US$10.7 million in FY2016 to US$9.0 million in FY2017, on the back of a 31.5% decrease in oil production volume from the Concessions from 313,702 barrels in FY2016 to 214,895 barrels in FY2017. The reduction in oil production volume was due to natural decline of existing wells over the year. The drilling campaign for the Concessions was successfully completed for 2017. With new reserves discovered, the Group plans to ride on the expected oil price recovery in the coming years with its primary focus on developing reserves and increasing production."

Personally, I would have preferred we get the money.

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Hi Thanks for thast posting. Where can I do some research on this company to find its highs and lows etc. Cheers Towie

CVN Price at posting: 8.4¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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