The way in which the volume has completely dried up is concerning me a little.
I have no doubt that closer to the drill program, we will see a big re-rate in PVD, however i do see a few obstacles in the way.
1) Formal farm-out approvals and their timing impacting on paying off debt and Gabon funds.
2) Clarity on where PXP stand after being taken over... is there a plan in place? Do they have the know-how to drill in Africa?
In no way am i suggesting things won't be fine... it just seems that we may be a decent time away from the action happening.
Lots to look forward to in the sector though...
1) Cairn and Genel drilling the Jurassic Cretaceous structures
2) Kosmos... Tangiers... and then PVD...
Will be fun when the time comes!
volume has dried up
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