Without any direct news of an increase in drilling of wells and bringing the 2nd rig into play everyone is assuming it is in steady state.
Going sideways. Until proven otherwise.
Could be a month or two till the company gears up on drilling numbers if the oil price can hold in the 60 dollar range, if oil price dribbles around mid to low 50”s I see no change in managements tactics to increase capital spending. And thus the share price will not move.
We are at a critical inflection point if oil price rises there should be more spending and wells to drill, if lower oil price then 4-6 wells a quarter and sideways action.
Not investment advice, do your own research, and consult a licensed adviser
SEA Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
