RE: Hope this is readableThe MD & A is a little more forthcoming in details, then the presentation is, although I'm not sure which one you are supposed to take as the "truth".
Cor 11, and Cor 19 - only seismic data for 2012.
Cedrela - 2 wells through "mid 2012"
Sangretoro - 2 wells through "mid 2012"
Andaquies - 2 wells (no time frame mentioned)RH 13 and RH 14 are 2011.
RH 15 and RH 16 are 2012.
(both confirmed in the presentation)
RH gas produciton comes on line in January.
Takutu - looking to extend exploration contract until May 2012 in order to drill the well there
All in all, a much more convservative approach to 2012, compared to what we saw predicted for 2011. I wouldn't say it's dead money, or that it's going to hit $5 as our resident basher/pumper duo are claiming. A hit at Agueda would be a good start to Q1.
Here's a potential problem. Let's say they get good numbers at Agueda 1...then what? I'm guessing they'll want to ramp up exploration/production in this block because it's more valuable. In order to do so, do they burn their cash in hand (hopefully), or will we see more financing? I'm hoping with more conservative guidance, their expenses are going to go way down...but who's to say at this point.
If anyone gets something more than cryptic replies from IR, let us know!