It's mostly because from this update there were 6 main points. Of these points, 1 (Val- 1) is operational now and producing to expectations.
The other 5 points are future statements which of course a company like VEN is always going to have given it is an emerging producer but the problem with future statements is that the dates often change and technical issues can occur. If the other 5 points change to become that they are all operational according to expectations then there will be a much more positive outlook for VEN. If they can get all of these done by the end of 2023 then they will be doing well.
➢ Odin Site works underway and progressing to plan ➢ Odin project on schedule for first gas before end Q3 CY2023 ➢ Vali-1 gas production performance in line with expectations ➢ Vali-2 fluid removal operations yield high fluid production with some gas ➢ Vali-2 shut-in pending production log analysis of zonal gas and fluid ➢ Vali-3 re-instatement operations expected in the second half of August
VEN Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
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