ECH 0.00% 37.0¢ echelon resources limited

bright future, page-15

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    Where do you get the idea that they are predicting a production rate of 30,000 bopd ????? over the last 100 days. ????

    If you are taking that indication of an upgrade in their prediction of increasing from 12 million barrels to 13 million barrels then you are misinterpreting what they are saying IMHO.

    Originally they were predicting an annual production amount of about 10 million barrels. After a couple of months that was pushed up to 11 million ( if I remember correctly).
    Then as production continued to chug along they indicated that the expected annual production to "exceed 12 million barrels".

    Now an indication of 13 million barrels is not a big advance on "exceed 12 million".

    So IMHO the reference to 13 million barrels is just jv speak for "we don't want to set a realistic figure and then fall short - we really prefer to indicate a low figure that we can always push up as we get close to it"

    I did a little calculation yesterday using a diminishing level of production over the remaining days from tomorrow and came up with an annual figure of around 14.7 million barrels (I think it was)for the year at the end of June.

    So no - they don't really think they are going to produce only 3 million barrels over the next 100 days. They are just being cautious.
    Underpredict and overproduce is their motto.
 
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