Anyone else notice this?14 Jul 2017 09:47
Below is something that's been nagging at me since the latest RNS has been released. I've submitted the query to Stefania and will post her response
Hello Stefania
I have taken a stake in Saffron energy of about 1.3% of the company, and am looking forward to being part of the story as it unfolds, but I have noticed an inconsistency between 2 RNS's that I would like you to clear up for me please.
In the RNS issued on the 22nd May, the following text appeared
Production will continue in level A at 20,000-25,000 scm/day up to the end of June, with production levels increasing to 30,000-35,000 scm/day from early July when levels R and S will be added, once the bottom hole choke is delivered and installed.
In the latest RNS on the 10th July, this guidance was issued
Over the first two weeks of July, the Company will install a downhole choke at Bezzecca and production from the field will recommence immediately afterwards from several levels, namely Level A, S and possibly R.
My specific question is. On the 22nd of May, there was no doubt that production from level R would be added. On the 10th July, it was stated that it was only possible that production from level R would be added.
What has caused this change? Level R had significant projected flow rates so now there is a possibility of it not contributing to production rates is concerning me.
I look forward to your response.
Mike