Hi Mitchdon,
Too early to say anything on operating costs in my view. Going forward.
- because of unknown costs, there is still a risk that MEL and VEN may have to raise further capital to keep the operations running despite Odin-1 and Vali-1ST1 production.
- the JV need to complete the analysis of Vali-2 MPLT and action a solution to remediate the well before mid Q4 2023.
- I'm unsure sure where the workover rig is and when it will become available again.
- the JV need to make a decision on what to do with Vali-3; it is a shut-in asset.
Odin-1 was some welcome positive news flow.
Kind regards OldGeo
Ann: VEN: Operations update Odin-1 flow rates, page-12
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