This update puts current production at "approximately 8,000 BOPD gross" and forecasts "the Joint Venture to
produce between 1 to 1.5 mmbbls per annum".
According to my math that annual figure is only 4,100 BOPD (unless they only average for weekdays!) This is a long way from previous forecasts 10,000+ BOPD. So either the market had not priced in the 10,000 forecast or there is a correction to come? I was hoping support at 44 would hold but now I am not so sure. The good news on L20/50 and the new rig did not really lift the price much, nor the significant increase in the A$ price of oil. There is a lot of uncertainty in the general market, affecting more risk plays like CVN.
Anyone have any thoughts on what production rate is factored into the current price, I think the previous brokers reports are a bit out of date now.
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16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $295.1M |
Open | High | Low | Value | Volume |
16.5¢ | 16.5¢ | 16.0¢ | $140.9K | 870.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
15 | 280894 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.5¢ | 636903 | 20 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
15 | 280895 | 0.160 |
26 | 1571766 | 0.155 |
30 | 1818314 | 0.150 |
12 | 750333 | 0.145 |
8 | 499362 | 0.140 |
Price($) | Vol. | No. |
---|---|---|
0.165 | 636903 | 20 |
0.170 | 2655491 | 16 |
0.175 | 895431 | 16 |
0.180 | 703227 | 16 |
0.185 | 1922985 | 13 |
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