Ann: STO: Strong Caley oil flow advances Dorado, page-45

Ya has commented over on STO. I note the bots are back, so this isn’t going to go far today I suspect. Patience is definitely required; those still underwater will do well to tough it out if they can, time in the market on this stock will be rewarded.

I’m now turning my interest to the development plan. The strong per well flow rate will give them plenty of options to mix their CAPEX appetite with field life and POO predictions. The one complicating factor I can see is that they will probably need to factor in a larger FPSO and that might mean a new build in this market, or a major overhaul at least, unless I’m missing something. It will still be a leased asset I expect, but there will be no shortage of companies lining up to offer one. A nice problem to have.