Also do not forget that Sidara are a ME based company, look how ME companies are run, they fill all positions they can with cheap labour out of the Far East. This will make any existing/pending contracts that WG have more profitable.
In the Middle East they openly admit and laugh about buying their degrees from U.K. & USA based universities. Also any courses you have to do in the ME to keep you certified for your work have been dumbed down compared to if you sit the same course in U.K. or USA, this is to help the locals pass.
You are correct it does depend on the time period selected, however the longer the time period generally gives a more accurate probability prediction. Any good or bad news can change anything 🤞
I hope I am wrong but what I am seeing is a bearish kind of wedge pattern forming since basically the start of November 2024. This general indicates that the share is going to go down, of course this is not a certainty.
Rot1, you can see it on the charts, support at 34 seems to be holding for now but the more it keeps being tested the more likely it will break, fingers crossed it continues to hold for now.
I have worked in the Oil & Gas for the past 36yrs. Most new discoveries face challenges and generally you don’t know what those challenges will be until the well has been producing for some time. For example scale, paraffin or asphaltine building up and plugging production, formation produces sand or Iron sulphide and blocks production. But rest assured there are solutions for most challenges so it will get resolved in time.
First time posting-: I agree it is good news and I am thinking that this does not stop them from drilling +-20 or so wells while waiting for the FPSO, plug them. When it arrives, hook up and start production. Ching Ching