pcarusoSdaji took a lot of comment to reiterate that Yeagar is...

pcaruso

Sdaji took a lot of comment to reiterate that Yeagar is overrated and will not deliver.

From the presentation I attended in Sydney I found Yeagar to be quite direct and told it without gilding.

The Frio and upper zones of Blue Ridge are typically small traps with unpredictable periods of production. The production can be stabilised at some level probably below 2000 bopd. He considers the uplift cost per barrel is twice what it should be and since profit is the difference between revenue and costs that is a key focus to strip out these costs - to bring these zones into profit.

There are much bigger targets in the Vicksburg but accessing these has been fraught with the previous methods - he has succeeded with the first well after better equipment and methods were introduced. How much money was wasted on this drilling by the previous management?

The third string is debt funded new projects - this must await developments as it seems in the initial phase at this time.

Yeagar only earns the big bucks if MAD performs and he will give it his best shot.