O&G InvestorsOught to know BEFORE investing in a speculative stock such as SNV that guidance, and production targets are penciled in with an asterisk and an accompanying footnote emphasizing that dates, times and projections are GUIDELINES AND targets. To hold a managment team's feet to the fire and act or react to the non-issuance of "News" suggests to me that perhaps those squawking at this juncture don't understand the dynamics of the O&G business... suggesting that something untoward is taking place simply because a NR has NOT been issued is akin to egging a weatherman's car because the day's high didn't hit the aforementioned weatherman's prediction.
Given the political risk, and personal security of the workforce that will be managing these 3 wells I am going to provide all the "slack" I can because what good is a contract IF the workers get killed trying to fulfill their obligations?
This certainly isn't like digging a hole in the Dallas-Ft. Worth suburbs... OR in the Canadian bush... and anyone that deems to treat it as such would have to be ummm intellectually challenged...
and speaking of wells... let us NOT forget that these wells have the potential for production BUT for all intent and purpose are little more than delineation wells and ONE should NOT expect production to flow in fact I fully expect these wells to be cut and capped without a single Barrel of production. The drill is simply to confirm the extent and quality of the "asphalt" SNV is licensed to produce and sell... from these wells we should expect little more than solid reservoir analysis with (maybe) 3 P reserves. WHICH will offer managment some idea of the cost and time required to generate a meaningful production scheme.
It's MY opiniojn git yer own...