december production figures

Thai Ministry of Energy monthly figures are out and I have included the December data in my google spreadsheet.

Production and wells are back up from last months drop indicating it was only temporary or a data glitch. The December production average of 1,442 BOPD is the best since June, but the quarterly figure reported is still likely to be lower than previous. It is also clear that the expected 3000 BOPD was not online on 31 Dec (e.g. 1400 base production for 30 days and 3000 for the last day would still be an average of 1450 BOPD - not that this is a relevant or fair calculation!). I think it shows that the base production was back above 1400 bopd and maybe some additional from the testing. Even CVN do not seem to know exactly where the government figures come from.

So overall a good result, since I was not expecting the 3000 bopd production due to various delays. I am still quietly confident (actually hoping) the full production comes online for their quarterly report next week if no announcements made sooner. As a retail investor I would be annoyed at management not updating us sooner on progress even if it was just to report delays. However given the final outcome is 3000 BOPD as promised (or more), in reality I expect that any delaying announcements would have caused adverse and unfair market reaction.

Do your own research and check my numbers and comments on other more informed sources!