We have updated our model to reflect SacOil’s latest CPR. A more conservative production profile has resulted in a slight reduction of our RENAV to 2.3p but this is still more than double the current share price of 1.1p. After the successful completion of the Company’s Phase II drilling program, which achieved peak production of 1,000 bbl/d, current production is at c.650-800 bbl/d, several orders of magnitude greater than before Phase II.This primarily involved drilling five addi
14 Jun 2016
Building up Ahead of Steam
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Building up Ahead of Steam
We have updated our model to reflect SacOil’s latest CPR. A more conservative production profile has resulted in a slight reduction of our RENAV to 2.3p but this is still more than double the current share price of 1.1p. After the successful completion of the Company’s Phase II drilling program, which achieved peak production of 1,000 bbl/d, current production is at c.650-800 bbl/d, several orders of magnitude greater than before Phase II.This primarily involved drilling five addi