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Oh ok understood, but very much like **** Holiday wrong for many months/years
Malcy just summarising RNS but giving us a positive spin as he did 2 weeks ago with Doc Holiday. All good publicity is good publicity.
NICODEMUS63. did I miss something all Malcy did/does is repeat what the company says in the RNS, what value does he add? Has he ever added value?
Problem is we have a shareholder who wants to get rid of 98 million shares currently (IFC)
I think the problem is to many shares
https://www.malcysblog.com/2020/10/oil-price-president-igas-savannah-energy-and-finally/
Yet another very positive write up from Malcy today. What will it take to get this share moving I wonder? That being said, I'm very confident that there is practically no downside from here and it will come good.
2 RNS's released. Costs per barrel down. Production (combined Oil & Gas) up. Debt paid down. Drilling means extra 1028 BOEPD coming online start of November. Prices received per barrel down, but considering PPC have weathered COVID and the lowest price of oil just about ever, they've done okay there too. Louisiana production constant. Rio Negro reserves increaased.
All in all a better H1 than I had thought.
Avg BOEPD for 2020 likely to be 2800-3000, with a 70/30 split between Oil & Gas. So aprox avg of 2100 barrels of Oil per day. The Roadmap published in 2018 had Oil production increasing to 4000 by end 2019, and 7500-8000 by end 2020. Maybe with a bit of stability, they can in the future achieve this (albeit a few years late).
Interesting a figure was put on the Paraguay. 230 Million barrels of oil hey??!!? Now if they can get that out of the ground this SP might get moving. I'd say I wouldn't bet on it, but d'oh looks like I already have. Haha!