RE: Timing3 Jan 2020 12:01
mr cautious/uncertain can't disagree with the points you make. Inconsistent performance both in terms of progress with wells and issue of/wordings in each RNS. The use of the word 'excited' is a new one in CC vocabulary and came as a surprise, but then again he has to do something different to keep us all on the hook.
On the trading/positive side, we have decent and growing production from the shallows which goes towards under-pinning the sp. If we assume in 2020 that the extra wells will add to revenues, particularly now they selling at a better oil price, then there is only upside from results of the deeps. Buying at 9-10p, then the return will be ok for 2020 just considering the shallows. We have deep wells all of which could double, triple or quadruple our production and then we can talk about 20p plus. However, we know getting these to flow consistently has been the problem as it was with Tengiz.
So I will continue to hold the pot and trade when the sp gets silly again.....which it might? Free ride now and staying, so rightly or wrongly I have a soft spot for Old Roxi