Ann: Operations Update, page-3

I am happy for the update.

Warts and all.

Clearly reality has hit in regards to pretty much all of the operations now... what I mean by that is all the excitement from last year is finally gone, ROCs team are now there as well and bringing a lot of operational experience, something I think BRU has always struggled with... and I mean this both at the field, and regarding drilling operations.

Our new target is 2000 bopd...?
So U1, U2, U5 and potentially U4 (200-400bopd) now at up to 2000bopd.
Perhaps 500-600bopd for U1 & U2 with U5 providing 600-800bopd.

Perhaps in 2 weeks time with operations now ongoing at U4.

No mention of Ungani F W tie in....? Surely that should be on the cards.
Interested to hear from anyone that speaks to the company in the near term.

That being said, Ungani North operations and potential success could add to their now lower target.
It goes without saying that BRUs deal with ROC was a good one. The huge pile of cash that it has/will have means that we are still making very good margins, even at 1600-1800bopd (net 50%).

As for the rig, still 5-6 weeks away from any drilling occurring which no-one is happy about, but... it is what it is I guess. Its nice to know that work is ongoing, but... again everyone realizes this could have been completed a couple of months ago (surely?)