rbs morgans, page-27

King ,

I thought the same thing however I didn't think it was worth posting. Glad you did as I thought it was just me.

Interesting point that Para mentioned about the shorters being all over it if there were problems. When you look at the timing of the previous shorting campaign ( and the sp weakness ) , that kind of lines up . Remember the shield wells that had to be drilled to help speed up the water removal ? The ob mentions debottlenecking issues. Sounds like the water volume must've been massively underestimated imo. Not sure we'll ever find out though. The positive out of this is that the issue has now been sorted as stated and coincidentally , the sp is looking healthier. I know the market in general is up but I think the ESG sp was out of proportion to the market.

Porty says in his note " higher gas rates are expected in the future ". Putting that with the debottlenecking statement says to me that it is now game on in terms of future gas flows.

Maybe I'm over analysing but that shorting campaign had me guessing and now I think I understand why.