Q2 2019results will be announced shortly. Theresults will not be a positive surprise due to production natural decline. Plus, the initial contribution of 2 new oildiscoveries (Brequet-1 and Snarcher North-1) will be small.
But Ipresume Q319 and Q419 will really be marvelous. First, the strong oil well, Growler-15 will be reaching full potentialby then. Then, the further ramp up of 2new wells (Brequet-1 and Snarcher North-1) will add more to oil production and theramp up of Roma North, to gas. Finally,the company has hedged oil at fairly good prices for the rest of FY2019
Theexpected mild Q2 results maybe one of the reasons why shorters have beenshorting the stock. But shorters have their risks. The results of the 5 new wells in WesternFlank, expected to be drillied in Q2, may be announced anytime now. 2 ofthe 5 wells (Huey-1 and Avenger-1) are exploration wells on “proven play” like Brequet-1and Snarcher North-1. And, 1 of them isactually a horizontal “development” well like Growler-15. This means that they have a fair chance ofsuccess.
Hope that Senex price could go lower the nextfew weeks so we could have chances to accumulate
