Concentrate on the word STABALIZE. This can mean slowing something down to a comfortable, predetermined level. It by no means implies the MAXIMUM rate achievable. RNS was poorly worded but may have been deliberately misleading.
Reference to earlier postings regarding Athena Production from Trap. It seems logical to me that potential production rates will not be reduced as a result of the recent workovers. That being the case is it not probable that production is being restrained to a level where production is equal to a level where sales will all be at the hedged price.? After all the oil is still in the ground and production can be increased when prices rise.
Best guess 4p by pmg. Lower they are when its announced the better the deal sounds why else try and lower ur price by releasing the news. Like that Athena decommissioning costs a few month ago why even release that, was no need for it. It's years away.
I emailed Ryan a while back stating pmg should be releasing rns for most of the news but he stated its not their job it's the operators and for pmg to release it they need permission from the whole group. Trap are not oprorator so why they releasing it. To ruin themselves or is it the bad news after bad news is released by them as it would have a worse effect on the larger companies especially pmg so they ask trap to release it. Trap probably be bought very soon. Down to £7 mill cash from £18 mill surely they can't last much longer.
Hi Hogweed,I do not know what is worse. To see 30% of your main producing asset wiped out and an RNS not issued or TRAP to issue one without stating it is restricted output which must be close to misleading the market? Something is not right here. Completely illogical that SP stood up so well today.
Maybe no one noticed the rns as it wasn't Pmg releasing it might be delayed reaction but going off that rate its 50% less that it should be after the fix. Down to about 1500 barrel per day to pmg. So much for a speeded up Dana , year what now 5? Can you see we will be valued at £1.8 bill in the next 5-8 years?
I think its just a badly writen rns and that's the production rate while they fixed it surely. If not it would have been better left alone. Also they have a hedge in place so still paying $106 per barrel from memory.
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