WTI as I write is just over $52 but as I wrote in an earlier post that as long as the non OPEC countries agree to do their bit as well, in the next 7 days or so, which some parts of the press are sceptical about then IMO there is more upside to come A higher WTI alone is not the miracle answer but it certainly helps us to see things in a positive light. As previously mentioned by others the refinance is vital to LGO's recovery and the 3rd thing is increased production. Once No2 is announced then plans for No3 should quickly follow. Spain is an asset which will Increase in value if and when the licence extension is granted. Cedros is another asset as are all the other acreages owned by LGO in Trinidad. The rise in the price of oil makes these more attractive and once finance is announced it will be interesting to know what the priorities are. As long as we are still 'in the game' I can cope with the waiting game. The pilot waterflood projected for end of 2017 might throw up some interesting numbers, it might not. Let's not jump the gun and say we can't afford the $30 million for a full Waterflood because it's down line, we don't need to be able to find it today! We don't know POO oil and production numbers in Feb 2017 let one Feb 2018 when results of pilot waterflood may be known - One step at a time - GLA!
30. * Operation Trinidad - Has LGO contacted the new Energy Minister Franklin Khan, and has he offered any better fiscal terms for LGO?
LGO have indicated to the new Minister our availability to contribute to ongoing dialogue on all aspects of the industry, including fiscal terms. We will ensure our opinions are known to the Minister and his staff both as a Company and as an active member of the Energy Chamber of Commerce.
I have also bought some more today,if the oil price isn't a positive I don't know what is,watch production rise once we start getting more per barrel,I have always thought that we are not pumping to potential because there is no point in throwing it away,nothing like a good rise in the morning
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