RE: 37mm bbl contingent11 Oct 2018 10:59
Public
Soco had 125mill bbls 2P reserves before the oil price collapse. Some of that was downgraded due to oil price, licence longevity, current production rates etc. The oil price is up now and they have resumed drilling (with more to come in 2019) so production should increase.. they have contractual licence renegotiations coming up ... after they are signed off, we should have an upgrade in reserves but probably a years or so away ...