NR - good and bad. Bad:
-cpo-1 a bust, unlikely they will spud the 2nd one anytime soon.
-balay not such a nice flow rate, une either off structure or wet
-no more drilling at LM until Q2 when they get permanent prod facilities. Also no more prod additions until then.
Good:
- LM 7 a success in 3 of 4 zones.
- balay a success with much thicker net pay in upper mirador, field looks likely to extend south
-
Catalysts:
- La Casona testing
- LM 7 testing
- El Porton spud
Unfortunately share price will likely languish until there are some more drilling catalysts.