Just google 'Statoil changes plans for Bressay - after Xcite shows them how it's done'.
Or alternatively, have a look at the following...
20th November 2013 Knut Rostad of Statoil’s communications department at Statoil was reported as telling the Norwegian paper TDN Finans: “I can confirm that the group has decided to reconsider the development concept for the Bressay field, and postpone the further development decision.”
Rostad said too: “The reason for the decision is that it is extended well data (extended well data) from earlier this year showing that there is potential to simplify the concept of the field.”
There was also an article in yesterday's Aberdeen Press and Journal which expanded upon this and contained a direct quote from a Statoil spokesman;
"interpretation of extended well-test data from the nearby Bentley field, a close analogue to Bressay, has given positive indications that there is potential to simplify the concept and investigate alternative and more cost-efficient development solutions".
Unable to provide a link as it is subscription only.
Great risk vs potential even after all the circumstantial evidence of the past 48 hours. Shame bet many were hoping for another double digit rise. All the best for the weekend of which there will be many till this gets closer to closing the NPV to SP gap in my opinion
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