OTCPK:ATGYF - Post by User
Comment by
Bigbadoilon Apr 27, 2009 4:27pm
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Post# 15947891
RE: Welcome on Board----Player TI
RE: Welcome on Board----Player TIUpdate:
Management is cautious. They have a stacked rig in Argie but are just tieing in gas reserves right now and not spending any capital on drilling. When they increase their cashflow from increased gas production later in year then they will look to restart drilling. The Argentina production will be increasing into higher gas prices...It is low cost.
Loath to increase debt at this time but looking at production acquisitions. Will do Causeway from a combination of offloading working interests, better cashflow and bank lines. Partner says late 2010 production for Causeway, AEN is more conservative saying 2011. When the FDP is approved (later this year ) and Financial conditions improve then this thing can be faster. Just tying in the 10000 BOPd well.. Costs are coming down.
Will post more when I find it out.
As a few people have stated - this is a patience play..