Market Reaction: Slightly Positive. Though the overall increase in 2C is positive, the main increase is at Tho Chu which is not in our Core NAV unlike the Nam Du and U Minh fields. The gross 2C Resources at these latter two fields, the main focus of development, has decreased. However, we understand from management that the cost associated with developing these two fields is also expected to decrease given that the deeper, higher CO2 and higher cost reservoirs will now not be developed.
08 Apr 2016
CONTINGENT AND PROSPECTIVE RESOURCES UPDATE
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CONTINGENT AND PROSPECTIVE RESOURCES UPDATE
Montanaro European Smaller Companies Trust PLC (MTE:LON) | 134 -1.3 (-0.7%) | Mkt Cap: 253.4m
- Published:
08 Apr 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Slightly Positive. Though the overall increase in 2C is positive, the main increase is at Tho Chu which is not in our Core NAV unlike the Nam Du and U Minh fields. The gross 2C Resources at these latter two fields, the main focus of development, has decreased. However, we understand from management that the cost associated with developing these two fields is also expected to decrease given that the deeper, higher CO2 and higher cost reservoirs will now not be developed.