Market Reaction: positive. The material 2P reserves upgrade is a product of the excellent well results at Mnazi Bay so far, particularly the MB-4 well. This suggests that the production profile could be increased in line with demand. As a bare minimum, this would imply a longer production plateau and at best or reduce future capex if the Company required fewer developments wells for the same production. We also expect the cash position to further improve next quarter as December's production wil ....
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FULL YEAR 2015 RESULTS & RESERVES UGRADE
- Published:
25 Feb 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: positive. The material 2P reserves upgrade is a product of the excellent well results at Mnazi Bay so far, particularly the MB-4 well. This suggests that the production profile could be increased in line with demand. As a bare minimum, this would imply a longer production plateau and at best or reduce future capex if the Company required fewer developments wells for the same production. We also expect the cash position to further improve next quarter as December's production wil ....