RE: Shameless Rampers28 Apr 2025 23:19
Well, think about it Jono, United have had the Walton Morant since 2017, and till now, 9 years later, have had trouble finding a partner? Something just doesn't add up. I would love to see the data they are peddling, my guess, is it's not quite as appealing as the CEO interviews seem to suggest.
As for Panman. i'll reiterate. The carry costs on Walton Morant are 5 figures. Put that into perspective. If you are sitting on a multi billion barrel prospective, are you really not going to pursue it because the carry costs are 70 or 80 thousand dollars per annum, when you are doing 1.7 billion in revenues?
Let's not forget, oil had gone negative. Never in the history of time, has oil had a negative price on it, and this was because storage costs essentially ran forward contracts into inversion. What Tullow did, was cut all the projects that were marginal, or uneconomical standard deviation wise. And so a project with the prospects that are being billed by the CEO here, assuming they stood to be truly realised, it makes no sense for Tullow to have cut.
A well will be drilled (hopefully), but I'm not so sure we are going to like what we find to be honest. If it's another Pedro Banks hype story, or any of the other 12 stories we've been told bout oil, that went nowhere, well, then you guys shamelessly ramping will realise that you should have been a little more circumspect, and stop acting like giddy children! Lay off the coca cola guys, they put cocaine in that sh*t!