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Wonder what they're smoking?
Hi all, here's a summary of what's to come exploration-wise in 2022:
Kveikje - 1 in 2 chance of success targeting 5 mmboe for Longboat
Cambozola - 1 in 6 chance of success targeting 40 mmboe for Longboat
Copernicus - 1 in 4 chance of success targeting 25 mmboe for Longboat
A roll of the dice.
As we've seen with Egyptian Vulture the market is indifferent to oil in the ground and hypothetical value. They could find Flight 370 and it would make no difference. These exploration plays are meaningless until they start generating cash via tangible assets. We’ve seen the share price of other new companies in the sector double in the last year while LBE are plodding along at a 40% loss since IPO. In the past I've heard a lot of people talking about "a great management team" but there has been absolutely zero evidence of that so far.
The LSE interviewer did a good job on the last one so interested to hear what Mssrs Hammer and Ingrasia have to say about the current predicament.
A short interesting read about Egyptian Vulture:
https://expronews.com/wells/egyptian-vulture-another-interesting-cretaceous-play-test/
Anyone else think a simple name change would do wonders for this company? Tekmar. Not very sexy is it?
Black vulture (well 6507/3-14 in production licence 159) has no relevance to Longboat. Egyptian Vulture (well 6507/1-9 in production licence 939) is the one we care about. The one that the article says the West Hercules drilling rig is now moving to. Correct me if I've got that wrong.