GREY:CXEYF - Post by User
Comment by
Corpkidon Mar 26, 2014 10:59am
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Post# 22369436
RE:Must admit....
RE:Must admit....I actually believe management has done a fantastic job. They walked into a complete mess, both out in the fields and financially. The team kept fields producing to generate cash, evaluated the fields which take time, they negotiated deals to increase ownership which takes time, they reworked their financials with GeoFinance and negotiated a deal to bring the World Bank on as an investor. Anyone that has run their own company understands these issues are complicated and take time.
That being said: Placing donkeys in the field to stabilize production, additional gas capture at el bibane, plus the potential for an additional 5 - 10mm dry gas sales (more negotiations) are all very positive steps in the right direction.
Production should stabilize H114 with all in place, then the company can start to drill additional holes and move production forward.