RE: Link to 2017, 2018 and 201918 Jan 2019 12:25
They have previously said they are no longer trucking oil, so if it's not going down the OBA, after we have had an agreed increased capacity I have to conclude the the production is very similar to the OBA through put, no? I dont believe it is a pipeline issue downstream of the OBA as the pumping station has been completed and even if it hasn't they are putting down half what they were.
I'm not insinuating there is a production problem, i'm saying there IS one to see the drop off. This has been offset by the great CP05 wells.
"We await the quarterly update but it is not late and so communication is not poor."
The details omitted from previous RNSs consistently over the past 3 years have often raised more questions than answers, I don't think i'm speaking out of turn in saying that most LTH would agree with me with this? Anyone remember last years drilling "Campaign"?
Amer previously stated that CP05 is not in their core assets moving forward this was before the last drill, have they come out and said that this has changed or are they still looking to sell it? I would personally think it would be a massive loss to sell this block until we understand its full potential even though it is out of the area. Most oil platforms around the world are not owned by a single company (older assets tend to be as partners get bought out). Amer's share of CP05 could be worth alot more than the current mcap of the company.
Mentioned this previously, all CP05 production is actually 20% net back to Amer at the minute after tax's ect (maybe a little more as wells come online but currently) so 15k production would be about 3k net to Amer (See john wardles last interview).
The Occidental campaign is more exciting to me that CP05 moving forward due to the strategic value of the OBA, if we can get anywhere near to running that at capacity then we would be looking at the fable £1+ share we have all long hoped.
To say your not concerned at a 50% drop in plat production (if it is the same as OBA throughput which it has to be give or take) is a bit daft no? There is definitely more positives than negatives here long term, 2019 is a big year for us, but most of us though 2018 was going to be a big year..... GLA.
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