Lets see a bit of enthusiasm, fellas. Jeez,weve all got a bit...

Lets see a bit of enthusiasm, fellas.
Jeez,weve all got a bit jaded over the last couple of months.
This is great news (and not unexpected). When I was wading through Maaris production numbers I found a figure of 20,000 bopd as OMVs estimate about a year ago of what they thought production might be when the growth project was completed. From that point on "20.000" was detuned to "15,000" in later announcements and presentations and that latter figure has been repeated several times since and "20.000" apparently thrown to the winds (though you couldnt be sure if that was the case,or not).
So now its official (at least for me) and we are going to attain the 15,000 figure ,as predicted, about now and the workover wells are almost certain to get us to 20,000,and damned soon.
Maari production (for HZN) in the year to 30/6/14 was 500 bopd It was out of action for 5 months .In the year to 6/15 I reckon the figure could be about 800 bopd and you have to have more info than we have been given to get it much more accurate.
In the year to 6/16 I had 1500 bopd pencilled in but that can be given a kick north now,particularly with the workover plan taking place very soon (and,I suspect finished fairly early in the new financial year).
My interpretation of the Companys hedging contract(which is that it may not be divided into components by field )suggests that all the additional Maari production is likely to be outside of the contract (.i.e. unhedged). This makes the fact that Maari oil gets a premium of $5 or $6 over Brent a winner for us right now.
Do your own sums on the income Maari should produce for us in the 2016 year and you will sleep more easily,and we might collectively work up some real enthusiasm for early recovery in the SP. Maari-what a little beauty and what a stock for the times. We know what the cash cost of getting our oil out of the ground and its low by any Oilers standards (except the Saudis cost basis). If Beilbu has the higher costs of our 2 fields (which is my guess)and Maari the lower cost structure Maaris improvement in production levels could have an accelerated affect on profit (or it could be the other way round). Anybody have any idea which field has the cash (extraction) cost .
Bloody good announcement,IMHO.