Planning complications at Wressle are a setback for Egdon, affecting short-term production expectations. We expect Egdon to return with revised planning documentation to address local council planning concerns over the next couple of months; nevertheless, we expect Wressle first oil to be pushed back by up to 12 months. Our production expectation for FY17 has been reduced from 165boe/d to 110boe/d as a result. Our updated core 2P NAV (including cash and net of G&A) falls from 3.7p/share t
27 Feb 2017
Wrestling with Wressle
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Wrestling with Wressle
- Published:
27 Feb 2017 -
Author:
Sanjeev Bahl -
Pages:
8
Planning complications at Wressle are a setback for Egdon, affecting short-term production expectations. We expect Egdon to return with revised planning documentation to address local council planning concerns over the next couple of months; nevertheless, we expect Wressle first oil to be pushed back by up to 12 months. Our production expectation for FY17 has been reduced from 165boe/d to 110boe/d as a result. Our updated core 2P NAV (including cash and net of G&A) falls from 3.7p/share t