All the above wells have been drilled on the same spacing unit to maximise the recovery of reserves. Production from the above wells is expected to decline from initial elevated levels which are based on a 10 day average rate.
Im not saying that, its a good move by the BOD and very economical, but to say there is no debt is simply wrong and a tad misleading.
BUT this is a mute point anyway, because its a growth company so debt is a good thing especially via the route that the BOD have opted for. These are good results and a step in the right direction (as per). I am hoping they use their full credit facility because it is cheap and will help progress the company is a faster fashion. ATB
If any investor needed to see proof of our BoD's strategy being successful, here it is! 96 boepd added, even allowing for IPR's, is a massive hike in our revenues, coupled with the extraordinarily low cost of $30 breakeven per barrel and MAGP is extremely well set for a huge future. Don't care how the markets react particularly because, above all, this proves to me that as a long term mega-return investment, this stock takes some beating. Heavily invested and delighted with that position!!! GLA
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.