Just so there is no confusion to any shareholder, it should be known that AZZ are not producing any oil at all..!!
If the announcement is reread carefully, it will be seen that the production from H-2 is an " oil relative comparison" equivalent..!
450-500 bls/d oil equivatent, with 75% of production attributed to condensate..
Condensate sells for around 90% of the value of oil..!!
Effectively the announcement means,,, that the combined financial remuneration from the sale of gas and condensate,,,is equivatent to that of the sale of 450 to 500 barrels of oil per day..!!
Thats a very good result,,,,,,,but they have'nt got any oil..!!
Cheers..!
Just so there is no confusion to any shareholder, it should be...
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