Hi Jessi,
the report was pretty much as expected with good production and forward looking prospects. The reason for the doldrums in the price is the lull in drilling & hole results. One rig is on maintenance & other is drilling expecting complete to TD and testing mid feb. So there is a couple of weeks before any more news comes through.
What was good to see was the price of oil the company is getting, it is around 70% of wti spot, which is good!!! reason for discount is grade of oil.
The transport and refining capacity has been resolved & will continue to be improved so by end of Feb they are able to run at full capacity.
Extra tenements are good long term development prospects. The financials are good in that they are fully self funding & all exploratory costs are paid by oil income.
cheers
stevero_58
announcment out, page-3
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