AED 0.00% 14.5¢ aed oil limited

Cost blowouts anybody??? Does anybody reading this SERIOUSLY...

  1. 1,088 Posts.
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    Cost blowouts anybody??? Does anybody reading this SERIOUSLY believe there have not been any major cost blowouts for their two well developement? Does anybody honestly believe they need to pass the hat for a cool $95M because they want to make additional payments for thir FPSO? Come on - nobody can be that stupid.
    Of course I knew about this nearly two months ago. I told you there would be production delays and I suggested there would be major cost blowouts. I was corerct on both counts.
    At the time of my original posts the company line was production would commence in July and there was no mention of any additional borrowings. In fact there has never been a hint of additonal borrowing.
    And now we have Dix himself acknowledging in a media report (pity they don't directly inform the market!!!) that full production will not commence till December. Plus yesterday we have details of a major borrowing announcement proving their original budget has been completely blown out of the water by a massive amount.
    QED.
 
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