Cashflow Growth30 Apr 2021 15:47
Production Transformation and Cashflow Growth
The Company's forward business strategy for the coming 12-18 months is firmly focussed on restoring and creating future value through significantly increasing oil production and thus cashflow in its assets in Trinidad and Tobago and Suriname. To achieve this, the Company is focussed on three principal activity sets:
a) Drilling of the Saffron #2 appraisal / production well in Trinidad and, in the event of success with that well, rapidly moving to develop the Saffron field, thereby significantly increasing Company production and cashflow,
b) Drilling of the Weg Naar Zee (WNZ) appraisal well and conducting an Extended Well Test (EWT) on that well in Suriname, and, in the event of success, rapidly moving to drill additional production wells across the WNZ field, thereby adding both further production and cashflow, and
c) Maintaining, enhancing and developing production (and resultant cashflow) at or from existing fields in Trinidad.
The Saffron Development in Trinidad