Tindalo broke alot of trust -
"the SC 54A Joint Venture had approved the development of the Tindalo field with first oil expected in 2Q 2010 and an expected initial oil production rate of between 7,000-15,000 barrels of oil per day."
Nido was the operator and said they were at 18,000 bopd at Tindalo, within a week it was all water.
That is why it is undervalued.
At least this Galoc extension can be construed as a continuation of a success story.
They just need one new success story to promote their mega reserves. Galoc just keeps them floating.
Tindalo broke alot of trust -"the SC 54A Joint Venture had...
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