Looks to me like Chinguetti is in serious decline. According to WPL’s latest Quarterly Q3 production is substantially down over Q2:
Q2/06 41549bopd
Q3/06 30985bopd
Quarterly decline 25.4%
We also know that average production was as follows:
July 35068bopd
Aug* 33018bopd *[Aug 1-22 only]
This implies that the production average for Aug 23 through September 30 was only 26593bopd……
……so looks like we could easily be under 25kbopd now!!!
At this rate we’ll be sub 20kbopd in the not too distant future.
I reckon you guys have had a very lucky escape……
……where would the share price have been without Tullows bid?
HDR
hardman resources limited
quarterly production down roc down, page-3
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