re: Ann: Silverwood - Oil Sales and Productio...
That's correct. That's what I've written before. $1.1mil pa AUJ's share. AUJ is incredibly lucky imo. The 1st well has gone into production. I'm following a few oil drillers, and it's one in 10 which is successful on average . To have one out of one producing is like winning a lottery. Some people just can not see beyond their noses. They jump at some numbers without a lot of meaning in them. Say, tomorrow they would come up with an ann saying yesterday's production rate was 250bopd. Then what? AUJ opens 50% up, and then the next day they have 100bopd, then it drops 50%. You can't just follow these numbers. They can fluctuate from the beginning. Once they set up stable production and give us stable av daily rate then you can say if it's good or bad. But to have a sell off just because number was 75 instead of 90 is plain silly. I actually managed to buy a bit more at 18.5 and quite happy with it. Every vegetable has its season.
AUJ Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
