Market Reaction: slightly negative on lower than expected December 2015 average production and a delay in production ramping up beyond 80 mmcf/d in 2016; we had previously anticipated that it would reach 120 mmcf/d by the end of 2016. We understand from management that the lower than expected cash can mainly be attributed to movements in Working Capital and a deferred payment for September production which is expected around March 2016. We continue liking the story that provides a unique investm ....
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MNAZI BAY OPERATIONAL UPDATE
- Published:
13 Jan 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: slightly negative on lower than expected December 2015 average production and a delay in production ramping up beyond 80 mmcf/d in 2016; we had previously anticipated that it would reach 120 mmcf/d by the end of 2016. We understand from management that the lower than expected cash can mainly be attributed to movements in Working Capital and a deferred payment for September production which is expected around March 2016. We continue liking the story that provides a unique investm ....