RE:RE:RE:RE:RE:RE:RE:A fine quarter , a little timing difference in cash flowBERationale wrote: From their presentation: management is guiding to 20 - 22k bbl/d of production this year and $155-$175 million of capex. So there is little to no production growth this year (they started the year at 22k boe/d with Wasanna making up 3k) and they are spending $155-$175mm. You can call it maintenance or growth or fairy dust, but if production is not growing it is not growth capex. It is capex required to maintain (hint: maintenance capex) production.
I hope you ar right on normal fluctutations but will wait till next quarter to see for myself. GLTA
Their Nong Yao expansion costs around 75m and a lot of it is upfront (pipelines, building production unit, preparing etc.)...and even if I can't tell the numbers in detail, your thesis is off.