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Is LAR on a leash?, page-2

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mandurah

896 Posts.

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16/07/14

21:03

Post #: 13670560
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Originally posted by DiamondJoe ↑

Just trying to get my head around a few things. We have LAR as operator, but CTR has a controlling interest in LAR.

We have an expert opinion that A4 should be produced at 460+ bopd, at least six months old. LAR, the operator has restricted flow to 160-170 bopd. At the AGM - the expectation was raised that it would be shortly be raised to 300 bopd - late last year. Current bopd from A4=?

Has anyone received a satisfactory reason why production from this well is being held back, and why hasn't LAR gone with the recommendation of the expert assessment?

I would have thought that CTR would be champing at the bit to get the full potential out of it's first producing well, especially as they indicated they would like to source debt funding.

So why is LAR dragging the chain and can we expect more of this as A5 is progressed? Will we have a 600-1000 bopd capable well producing at 150 bopd in A5 - as with A4?

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Valid & pertinent questions Diamond. With the guys running this show, who the hell knows anymore???

CTR Price at posting: 0.9¢ Sentiment: Hold Disclosure: Held
6 Upvote

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Is LAR on a leash?, page-2

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