Just slight delays in commencement of production. You cannot...

Just slight delays in commencement of production. You cannot accurately assess the reserves of an accumulation without all the data available. The most important being the production index from reservoir performance under different testing conditions. We will apparently be informed of the reserve potential of Smith on production results. These will then need independent assessment to assign P2 to the well and further appraisal to prove up the reserves. That's why they're raising the funds though. Nothing of great concern in there, they're still progressing towards production now in Feb rather than Jan, minor delays like this are part and parcel of the oil industry. The operator cannot control the weather for shifting heavy equiptment. ;). Still waiting for the additional test results from Smith-1 to see what size of find these guys have.

Captain Nelson Forties - Posted in the UK on ADVFN board