Processing and export expansion In Dec /12 , Mart reached agreement with Nigerian Agip Oil Company ("NAOC"), the Nigerian operator of the export pipeline, to increase the combined export capacity for the Umusadege field and other fields in the area (collectively, the "Cluster") by 10,000 barrels of oil per day ("bopd"), bringing the total export capacity for the Cluster from its current level of 11,000 bopd to 21,000 bopd.
The first phase of the export capacity increase, which was implemented in early January, resulted in Cluster export capacity increasing by approximately 4,000 bopd to 15,000 bopd
The additional export capacity, which was expected to be implemented in several phases over the following four months, was to be allocated among the Cluster members on a pro-rata basis based upon the production capacity of the fields in the Cluster and other factors.
Since the implementation of the export capacity increase, a majority of increased Cluster export capacity has been allocated to the Umusadege field.
I am assuming that phases 2 and 3 have been implemented which means that export capacity has now reached 21,000 bpd.
Central processing capacity to 30,000 bpd was 75 % completed in early May, so we should be near completion on that bottleneck as well.
Its a very good sign when share price advancement increases on a daily basis.
The bigger jump today probably means that the momos and day=traders are starting to move on, as stronger hands take control of the share price.