I don't get what's with Auctus. Seems this article caused a rise before it was released. Auctus maintains target of $6+ based on current production without upward revision.
https://www.directorstalkinterviews.com/valeura-energy-accelerates-wassana-drilling-as-wells-exceed-expectations-says-analyst/4121142695 Year end exit was approximately 20,000 bopd. January update states 22,000+ bopd which leads me to believe that Wassana added about 2000 bopd in January assuming minimal aggregate field declines for the month of January.
Now that Wassana is at 4000 bopd, I suspect production has increased another 2000 bopd to approximately 24,000 bopd.... and more to come from Wassana with the third well and additional drilling.
Adding 4000 more bopd from Nong Yao next quarter tallies up to 28,000 bopd. Less a couple thousand bopd in declines should bring aggregate production to about 26,000 bopd starting in 2nd half.
If additional Wassana wells bring in another 2000 bopd, aggregate production could total 28,000 bopd with Nong Yao expansion included.
Hmmm... I guess Auctus is taking a show me the money approach... or should I say show me the oil.
Management needs to report production by field in every release the way it was reported before. We need better transparency. The updates are great, just need to know how each field is doing. Otherwise there is too much uncertainty.
I'm comfortable with a 28,000 bopd estimate for the start of the second half. What's yours Auctus?