RE:Sad open so far...I was a positive news release, but had negative issues in it. The most significant being the anticipated declines at LM this year, the others being the inability to produce anywhere near capacity at LC (gas restrctions) and the low base case production projections. All these will have many people biting their nails wondering what 2014 will bring for PTA. They need an abcious success like LM to turn things around, not these moderate successes chalk full of unknowns. (when will LC produce more, will they appraise LC and Rumi and when, how much will LM decline, is LG actually going to be a discovery and is so how much?)
Lots of uncertainties thrown into the mix by this release. Yes, Rumi and LC-2 are moderately positive, but not hugely so.
Don't get me wrong, this is still a great investment IMO, and Crypto, Curiara and LG hold tonnes of potential. Malavar is not guaranteed to be drilled anytime soon ... still waiting on permits.
Rumi is a nice small find, and LC could be fair sized but won't produce much until they can justify a pipeline or a much bigger gas compression facility. About 5 times bigger.