Hi Geo, i think there was 50m fcf from.higher oil prices left in the bag, from my expirience of forecast/ budgeting - you never show your 5 cards before you need to, but thats an assumption rather than fact, let's see.
Anyone can massage the timelines to get the data they want, i sold at 98p on TU day, after the shock drop of the morning and the fear of the convertibles.
I then went on to plus 100p very quickly and only retraced with the drop in Brent.
If Brent is rising this is a massive buy - end of.
You need to read the Zama schedule again, IMHO.
Then you need to look at the number of days on Zama 1.
Add the recent movements of BG, GS and BR, perhaps then the penny will finally drop.
Forget the deeper zone for now and focus on Zama OWC......
Production - 79.7k full year.
Debt - 2.39 bill.
Catcher - very positive
Tolmount- all good
Mexico - Zama time!
Solan - sweep under carpet
Sea Lion - kick the can down another 3 months.
Summary- all good and will purchase assets to drive cash flow.
There's a difference between anticipated and actual. The TU is going to be as expected, but for traders theres no reason to jump in before unless Zama news came in, however that news is dictated by Talos. They've already told us what production and debt will be 1 month out, it wont really change.
Catcher reserves upgrade could be very good but o think that will be at full year results.
To confirm it was 7% up, not down. Secondly Zama is an appraisal well, the discovery has already been made, these drills will firm up numbers given the mean resource currently has a bandwidth of 400m !
I didn't realise the lifting costs were so low with Zama - if the appraisal stage is good, bigger fish will be circulating.
And on that note BG have a habit of buying stock pre corporate action.