Market Reaction: slightly negative. The Company had been hoping for around 2,000 - 3,000 bbl/d from DD-3 meaning more drilling is likely to be required. The low water cut however is a good sign given the issues previously encountered at the Cretaceous. The 10,000 bbl/d YE16 production target comes with a lot of uncertainty given the reliance on the, as yet, undeveloped Zey Gawra field.
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FY15 RESULTS
- Published:
17 Mar 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: slightly negative. The Company had been hoping for around 2,000 - 3,000 bbl/d from DD-3 meaning more drilling is likely to be required. The low water cut however is a good sign given the issues previously encountered at the Cretaceous. The 10,000 bbl/d YE16 production target comes with a lot of uncertainty given the reliance on the, as yet, undeveloped Zey Gawra field.