RE: Level 28 Jul 2024 15:00
I agree Casc @ & 3 should be good. The issue though is the decline rates. If they're still diabolical the re-rate won't be as large. Also think the sp will be above 40p prior to Q2 results, which will determine where we sit prior to Casc initial flow rates. End of year is forecast to be 14-15kboped. I think we'll probably end up at this level with continued decline rates, but not as steep. Still a very big production profile for a company with 30% liquids production, tax pools, and immense upside if they can work out the best way to exploit Casc. I see 50-60p year-end all going well. GLA