Report noted on GENL. The sudden water ingress, and the scale of it, is surprising. Would be interesting to read the follow up on this story.
To date, I have always been impressed by the low water cut on Platanillo together with the high IPs on natural flow and choke application. It won't always be the case in exploratory drills across the basin. And yields may not be as high as some of the Plat results.
Critical time coming up for AMER, particularly with all the background politics. Keep… Read More
Yes there is definitely oil to be found, What is in question is its viability. Too much water, too far away from the OBA pipeline or too much for the constrained OBA pumping capacity (downstream actually) and it will have no value no matter how many discoveries are made as Genel's share price today indicates. Still it helps to have no debt so I'll be keeping a close eye on cashflow. I also don't want any more capital raising thank you!
Two comments on the topic hardly fill anyone with bags of encouragement. Oil price in 2017, despite all analysts' opinion, is an unknown. The depressed price has dragged on seemingly forever with no real indication of recovery. At ~$48/barrel, the math doesn't add up if Russia, Venezuela, Nigeria, etc need ~$90/barrel to balance their accounts. Saudi (and Aramco) require a similar figure in terms of fiscal budget. So does OPEC introduce another round of production cuts within 3… Read More
Still testing 20p BUT abit happier with BOD as starting to give regular updates which is what Investors want==would be nice to get upto date throughput figures for OBA and BOPD==and Confirmation got Licence increase to 5000+ throughput sorted
Probably trade 40-60 range for next 2 years. I think things get better 3-5 years as massive cuts in E and P bare fruit. OPEC with Saudi will likely extend the cuts probably puts a floor esp Aramco IPO. U.S. shale will absorb for so long but remember this won't rise indefinitely as most attractive shale plays will be priced high and service companies will exert cost pressures and capital access won't be as easy. AMER is surpressed due to seller but they generate good margins with OBA it's got no… Read More
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