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We could be waiting for this to hit actual production.......Thus, by the end of November, from the above wells, President expects some 175,000 m3/d (1,028 boepd) new gas production to be brought onstream. President's intention is to build into its gas portfolio the capacity to reduce or increase production flows to reflect seasonal price variations to optimise profitability and cash flows. I am now confidant we will move higher as EVN-1 has opened up even more potential, how much is yet to be announced but i can wait as money will move back to O&G stocks next year which makes now the time to invest. IMO.
Agreed PPC seem to be doing the right thing, lots of action and updates but need to clear any sellers and then see significant income increase hit the bottom line.
Agree sp not going far until sellers have gone completely
it really feels like these kinds of results are going to have no bearing for a while on the SP.
Paraguay news on Farm out next. !
Very happy with that result and again a quick drill with no mishaps. “There are no current reserves booked for any part of this structure.” Worth posting again IMO. Well done PPC now back to planing your next move.
this well pays for itself in less than a year. and opens up more opportunities in the field.....the reserves will now have to be written for PPC a huge upside ...this is cheap as chips ..literally cheap as chips
As it had previously announced, the intended target at EVN-x1 was an undrilled and undrained structure within the larger Estancia Vieja field, where the P50 success case for the well was oil of 250 barrels per day, and gas of 60,000cubic metres per day, and where the structure as a whole could contain between five million and 14 million barrels of oil in place, and between 11 billion and 26 billion cubic feet of gas.
“In the event of success, it would open the possibility of some six follow-on wells, of which five would likely target gas and the other oil,” the board said in its statement.
“There are no current reserves booked for any part of this structure.”