1 and 2 agreed. Wouldn't want 3 to happen for a while given our distressed state and opportunistic share price. I don't subscribe to the argument that say, for example, NM would put out there in that the ultimate TO price will be linked alone to recoverable barrels. I don't know of any takeovers where the prevailing share price has not been relevant so no thanks in respect of No.3 just yet...........
I'M Expecting a major increase in P1 reserves, with 18 months production since the last CPR with over 14 million barrels produced. The recovery factor should be improved, along with the fracture prosperity,as every 0.2% increase results in 800 Million barrels. And finally a revision of the OWC from the current whole field being given a 1,450 assumption from SH6 well, whereas SH1 Reached 2950M TD with no water, Every 10m below the 1,450 results in additional 20Million in reserves, possibly another 2Billion.
The U.S. Energy Information Administration reported monthly production data Monday showing a fall in production to 9.296 million barrels per day (bpd) in June from 9.4 million bpd in May and a peak of 9.6 million bpd in April. In an OPEC publication issued on Monday, the producer group said it is concerned by the drop in oil prices and ready to talk to other producers.
Opec is reading to deal. Back up comes oil and hub misses his entry point.
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