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Bullboard - Stock Discussion Forum Stream Oil & Gas Ltd SOGAF

GREY:SOGAF - Post Discussion

Stream Oil & Gas Ltd > Management information circular
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Post by frankythetank on Jun 17, 2013 3:34pm

Management information circular

Says that production is currently around 2100 BOD.   Here is the cut out of there current production:

Average annual production increased by 42% to 1,159 net boed compared to 814 net boed in 2011,

despite the impact of shut in production due to continuing facilities debottlenecking. Stream’s activities in

the fourth quarter of 2012 focused on completing its surface infrastructure program and increasing oil

production through Gorisht-Kocul oilfield reactivations, installation of additional jet pumps in the

Cakran-Mollaj oilfield and optimizing equipment performance. As a result, the Company’s average net

production capacity was approximately 2,100 boed (approximately 2,760 average gross boed) at the end

of March 2013. The Company has shown peak production capacity of 3,100 gross boed which requires

both operational and infrastructure upgrades to be completed as part of the 2013 program

Comment by junior-oil on Jun 21, 2013 8:24pm
Unfortunately that is production "capacity" rather than actual production. Suspect they are producing much less than this. The company has been taking about capacity for awhile now but has never produced anywhere near this theoretical level. If you want to see the dangers of confusing  these, see Alange Energy (name changed to Petromagdalena before being acquired by Pacific ...more