Renaissance Oil Corp. RNSFF

Re Pemex Plan to double well drilling count

[Boots333]

Mexico announced last year that they would drill 506 wells in 2019, three times as many wells as the previous year. In 2019 they may have drilled as many as  210 wells in total. I don’t have the exact number yet, but they had only drilled 159 by the end of September and this number will have included all wells drilled by private operators.  So when they say they will drill 423 wells this year it is a highly unlikely number. Based on their performance last year i would not think they will drill more than 175 this year, especially considering oil well drilling has not been declared an essential service and there has been no drilling allowed for the past month and will be none for the next two weeks at least.