RE:New interview with ceoFrom ADVFN BB user HereAndThere:
Basically,
Monteney is producing 8 million cubic feet a day between West and East Pepper. Prices are circa $6 atm which is v timely. Looks like West Pepper has found pipeline access again and E.Pepper is decling as expected after the first flush.
With both wells proven, developed and producing it adds credence and value to the 1.8 TCF reserves report. They have interest from buyers, they intend to monetise the Monteney and re-deploy capital to Colombia where the return on the dollar is far better.
Colombia re-completions.
RCS-1 was flowing at 450 bopd gross, has added 200 bopd
RCE-1 Where they found fresh sands intitially which they have flowed and gathered much useful data (which can be extrapolated across the field)...had declined to 55 bopd prior to the re-completion...after 6 days of just seeing water in the clean up, is now flowing oil; No numbers yet. I imagine , they will publish these once clean up and flow rates have settled down.
RCE-2 is chugging along nicely at 1050 bopd gross
RCE 3,4, and 5 to be drilled and put on production over the next 3 months, exoect RCE-3 spud news any time from now onwards.
Then we are on to Carizzales, a 2-3 well campaign on a v v sweet looking asset. Off-set from Carizzales south which produced 10m boe.
I think this is going to take 6-9 months to complete. A very news rich and value accretive period.
Other flagged up news we will hopefully see
Monteney sale
Oso pardo license extension ( if this comes in we could see a dedicated rig going on to this block to drill it out pad by pad, well by well, cheap, efficient and logical))
3 D campaign on Tapir