Tax savings until mid 2016 on Ebok. Exploration wells on Ebok Deep and Ameena East (both in NIgeria) due to spud back to back from anytime now. Debt increasing due to spending on additional development (around 70% of their capex is development rather than E&A) so production will rise, so volume increases should at least help to offset the drop in the oil price.
I don't think it will go as low as 50p but think you could be on the right, look what happened to GKP as that kept dripping until it hit the low 40s - (unbelievable but it happened). Was thinking about getting in at 69p but may buy in smaller junks from that price in case it does go a hell of a lot lower. What's everyone thinking? ATB Bob
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