RE: Share Price21 Jan 2021 11:02
I don't think they've confirmed the exit rate production for 2020 yet or instead the current production as of say yesterday for eg would have been fine instead? That dissapoints me and has me suspicious it's not what I expect it to be (even including allowing - approx 300 boepd -for the mishap at EVx-1..)
The mishap at EVx-1 - which was producing 50,000 m3/d (1.75 Mmsft/d or 294 boepd) at end of year - has the opportunity cost of say 2 or 3 months production outage as well as the $1.5 m to rework.. so smallish significance but a ways from insignificant is how I'd describe it.
Including a more bullish macro oil and gas sentiment / pricing picture, and some reasonable progress here in 2020 and more planned for 2021, I was expecting this to be closing in on 2.5p around now .. the fact it's at 1.8p as I type is actually frightening as much as annoying to me.. a punchy per cent difference by any definition.. therefore I revise down my expectations here for 2021 and re set my exit target here down from 3p to 2.75p, and that 2.75p being a figure I expect to be plenty harder achieved now .. Also I have sold 15% of my holding here - at a tiny profit, at least- towards freeing up money to bet elsewhere. ( I was going to make that 25% but don't want to overreact ) I don't feel in any way sad about this.. and the best take away I continue to have from ppc is I'm so thankful I'm not much - much - further down on my altogether bets so far on this doggie.
Always good to finsih on a positive though, so here goes: Most all of you will be pleased to hear that I'll be posting less again here going forward. (Also, I'm still reasoanbly hopeful for the many long suffering who have averaged down hard here though eg approx 3.5p averages and lower)
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