Agree.
The latest announcement is somewhat disappointing. Like so many, I had also expected the JV to be well over 15,000 bopd (6,000 bopd net to CVN). Late last year, it looked like they were going to achieve it easily. Indeed, it seemed as if, for tax reasons or other, CVN was deliberately under reporting oil production in the last quarter.
Moreover, testing of the appraisal wells seems to have been slow or incountered problems...requiring further side tracks to be drilled.
I dearsay the oil price will help support the sp but, the update was not what I was expecting :(
As testing usually takes 10-14 days it seems that we will have to wait another few weeks.
announcement out, page-15
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