RE:Gamba's E-mail1234robt wrote:
Could accounting be putting a factual current production rate together as Gamba and CNE employees DO a great job of surpassing all guidance? We said we want it (Practical, I and Bago) and it takes time as well as ANH confirmations. It is not just as easy as dropping recent well flows out - as any accountant will know. I hope so.
Actually, generating a monthly production report is not difficult to do. CNE knows exactly how much it pumps - probably down to a minute by minute metric. If the company didn't know what it was pumping/selling, then you, as a shareholder, would have much bigger things to worry about.
I believe all oil producers in Colombia are required to submit such reports to the government on a monthly basis.
My suspicion is that there isn't a direct incentive for CNE to release this info. The data will invariably be stale dated - you would never get "current" production levels, it would always be previous month's (or the month prior). The data could be misused, misrepresented, etc, to shape market price for CNE. That being said, I am of the opinion that this information makes its way into the hands of market players.