I think30 Nov 2018 08:41
You may be right to a certain extent, however, NOG is earning more for less production according to recent results so it’s not that clear cut. The delays to GTU 3 is having a negative affect on the outlook for sure but, I expect this to be resolved by the close of Q1. With GTU 3 online there may be more revenue from processing third party gas which will more than offset the dip in production. All that said, I can’t see why the brokers have down graded it so much, to drop in some cases, by 100%, imo is ridiculous. 2 years ago, with similar production, oil at $35/bbl and GTU 3 in the planning phase, this share was close to £5. Its massively over sold atm and the brokers are either corrupt or incompetent. All imo of course.