RE:RE:RE:CEO>CA posters looking for 22 cents per shareNigeria was hardly even mentioned prior to the Liberian duster. The agreement with Essar expired at the end of November, so who knows where that stands. Besides... it is only an appraisal of the Noa-1 well, which was abandoned in 2001. Chances of successful completion of offshore plays like this are extremely low. Wyoming, although still relatively expensive, is their best chance of showing value.
November sales averaged only 1040 bopd net, down from October... they have 1053 bbls/day hedged at $56.58 per bbl for all of 2022. Last year the hedged price was $61/bbl.
They need to lower their debt and increase production. Tough to do.