Great stuff CVN. At this important juncture there is the right amount of info,plenty of realism, plenty of info,a timeline re recovery, pretty much a target SP, a game plan that is hard to argue with etc.etc.
Briefly:
1. A consensus SP target when things get to a new (lower) "normal" of 40ish. Agreed (I think most of us will,with 50ish in a burst).
2. The last declared emphasis of 75% V and 25% S now closer to 75% S and 25% V. Say 50:50 until proved otherwise.Right on.
3.Following on from "2". "Steadily improving base prodn. from S reservoirs "listed ahead of the statement about Vs.They are listed 1 and 2 in Managements priorities with Phoenix listed 3rd(see later).
4.SP catalysts. "Strong results from Thai V reservoir focussed drilling program" listed first ,ahead of "consistent delivery of solid Prodn. from...the S program"
This seems to be a statement that is chronologically based.No surprises there but I detect a show of confidence in where the V plan is at.
The chances of a good result in the follow-up well to the 1100 bopd one are good if not better than good. I interpret the drilling schedule to allow for a third such V well (making 2 shots out of the 4 shots that they have in their sight on one side of the 1100 bopd success before the rig moves on ).
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