OTCPK:ATGYF - Post by User
Comment by
Bigbadoilon Sep 01, 2007 11:21am
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Post# 13331845
RE: News Release on Causeway -into dull market
RE: News Release on Causeway -into dull marketHey Beer belly:
Before you have your long weekend beer, i would make a comment re your comparison btw Oil and AEN.
Yes AEN are more diversified, on the basis that they are in 2 basins compared to Oilexco's one. However Oilexco have 18 projects on the go in the central North sea in varying stages of development.
Brenda/Nicol is the first project to come on stream. Next year Shelley will be on-stream which will more than enough to replace current production. There are numerous other smaller projects destined to come on in the next 2 years. Also they have 40% in the Huntingdon discovery, which may well turn out to be the biggest discovery in the North sea since Buzzard (rec. res. 500mmstb+).
My point is despite having the Causeway and Fyne and Dandy projects (great that they are!), i dont think AEN has the calibre of an Oilxeco project portfolio in its back pocket as of yet. Plus AEN doesnt have 2 rigs on long term contract either.
Bigbadun'