RE: I did tell you...16 Aug 2022 11:28
The CEO has failed the acid test for HH. They failed to produce an updated CPR, and they cannot claim that they have insufficient data, they have plenty of data and decided against commissioning an updated CPR.
Why would they decide against a new CPR? Well you'd have to understand that Xodus (or other) would have access to all the data for the Portland and for the Kimmeridge, and being independent and having reputation to preserve they would not be willing to turn a blind eye!
Fact is, Kimmeridge is a dead play, it cannot be frac'd as it is already naturally fractured.
Fact is, Portland is a very limited oil play as has been seen at HH and also at Brockham, water injection provides a means of extending lifetime of the well and recoverability, but it will never ever be "transformational" and certainly nowhere near sufficient to cover the operational overheads.
Acid test = FAILURE.
The CEO will not commission an updated CPR, and he will not do an interview or investor call to avoid having to discuss the matter as he knows his lifestyle is at threat if he is forced to make a comment on the matter!