Wow, AP has outdone himself with this announcement... there's a whole lot of words here containing almost no new information. Production rates need to be disclosed here and I'll be following up myself with an email as it's outrageous and concerning that they haven't included them, this is material information. All this talk of stored production volumes is smoke and mirrors to avoid disclosing true production rates. If an offtaker has been decided then announce it for God sake, this still reads as though they don't have a definitive buyer as of yet.
Concerning that Amistad 3 has now become a contingent well....what specifically is it contingent on? My thoughts are that Amistad 2 has now become a make or break prospect for the crew. Are the production rates at alameda-2 that poor that our JV partner has begun tightening the thumbscrews and won't be putting anymore money into the project until AP and the team can prove commercial flow rates?
3D won't go ahead until FID has been taken on the project, so all of this is up in the air.
there is no pump in this announcement because even AP has decided that it's not worth his time to pump this nonsense. Get your nose to the grindstone and work the problems, so far you continue to achieve next to nothing.
MAY Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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