With respect Linebacker, the API grades reported (Historically) & logged over much of the Cuban oil fields report higher API's that what was present in the field at Varadero.
Why the comparison always refers to only Varadero is one for the auditors I guess.. But it is a bit akin to a realtor trying to value a house by comparative area sales.. If there is low vol or no vol at the suburb point of sale they move to one that does meet the vol criteria & then extrapolate value.. Incorrectky IMO, but hey thats how it's done..
We know this is Cuba, therefore we know that anything that Cuba reports is treated with suspicion by the West, who in turn seem wildly inaccurate (IMO) with their own assesment under the banner of the USGS.
Admittedly there are people both hopeful & excited for any upcoming news. If not then why invest in a risky proposition in the first place. ?
No it won't bang a dollar straight up, but it does have every chance of being a billion dollar co. in the alloted timeframe like AP says..
To denigrate someone for cheering on their team at their home ground is a bit of a slur don't you think Sir, if indeed you played the game as your name alludes?
The average Cuban well produces are 1200 barrels a day. Initial flow rates have historically been measured up to 3000 before falling back to be in line with gen field pressure flow variants..
Sherrit through drilling hole after hole (209 circa over 20-25yr period) got production up to 50k a day I thought at peek (might be less & need to check) and in fact helped pioneer horizontal well drilling in doing so. Mainly because of the shallow onshore/offshore shoal like nature of Varadero field.
The Cuban fold belt is tricky to drill but the drill manager had no concern with what lay ahead & the drill run to date has proceeded "extremely well operationally" aa you allude to in your sign off.
Which had changed I noticed from simply "doing well" to "extremelly well" recently which prompts an honest question to yourself "What changed or prompted the update Backer?"
There is little that is random in the universe & hence neither was that little adjustment I do believe?
I also note that the latest exchanges are devoid of any signatury note, mainly because on face value they come across as personal attacks & not operational queries or updates.
It is easy to get drawn into the tit for tat, but for what purpose? Hotcopper being a public forum as it is will bring all manner of invitee to the site. Non of whom think exactly the same aa anyonus e else, for that is human nature. Just because we don't align or agree is not a reason to immediately retaliate. We cannot control anyrhing other people do & especially via a social media stoush..
Even more so when adopting a position of "not held" & then calling out those who do for exagerations..
Fully admit that I have been guilty of slanting towards the personal when defending a position in a jnr or microcap when trolls rocked on by. That to me seems logical as I have skin in the game whilst they did not.
Which makes the Modus Operandi of a non holder a curious one? What is in it for them? Surely not to just save por unfortunate souls from wild exagerations?
MAY have been performing extremely well operationally, you are correct.. Everything else is yet to be proven, again correctly pointed out but imminent within days / weeks one might think..
So does that mean you have or are considering taking a position?
No they won't moon on ann & def not hold in this current market.. Very little is!
But I don't buy the scenario that an O&G industry affiliate wouldn't see value presently in the SP to possibly double at least on the arrival of anticipated positive news flow events pending..
So I wonder if the little change signalled something?
(20min delay)