"The S-375 well will be drilled on the northern structural lobe of the field approximately 2km south of existing wells that contained approximately 10m of net pay. This well will be spudded in Q2-2017 and completed this summer. If successful, it is expected to lead to the development of the Sibkrayevskoye oil field commencing in 2018"
Oil price has gone up recently, yes it's not flying as such though.
I haven't really read into production yet but I was just suggesting it could increase in the future.
No one except insiders are always right, but I find trends to be highly useful. It explains market feeling, and usually there is a reason for a trend. It doesn't guarantee good news or upwards movement, but it suggests the market is overall positive and willing to pay gradually more for the share, and usually this is because of recent good news or upcoming good news.
Have to agree, Granto. Could never understand that and assumed I was missing something. There's an arrogance about the bod that I don't like. It's all very well being cocky when you're doing the business but when the progress is as slow as it is, a little humility is in order.
The critical well to ensure viability was and now is S 375 . What the heck were they doing drilling a step out wild cat S-374 well when S 375 would be required in the event of a non commercial S374. They got this backways. This devalues the company by 10% for the delay to 2018. A further devalue in that they could delay again if S-375 is a duster. Clearly 375 should have been done first !
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