Parex Resources Inc T.PXT

Arauca, What Happened? Someone please translate what Eric

[CrazyTrader]

Furlan, chief operating officer, said about Arauca in presentation.  Jump to time stamp 4:40.  

He said Arauca initially had high performance.... Then some issues happened, he listed some of them.  Can someone describe what those issues were in basic terms that I can understand.  

static.events.q4inc.com/edited-recordings/542316564/99f7786b-ffcd-423f-a3a3-02852a9bdf9b.mp4#t=0.1

[CrazyTrader]

I think the said ... 1) wall board conditions? 2) water intrusion 3) asphaltene 4) tital rock?  What are each, and how serious?   

[Lurker11]

1) Wellbore conditions is a vague term so hard to say what the specific conditions were that caused problems.  Could include things like damaged pipe, incorrect sizing etc.  Typically I would say that wellbore issues are correctible with some time and $$ once understood. 2)  water intrusion can be correctible or could be insurmountable.  This is likely why they have to re

[CrazyTrader]

Thank you Lurker11.    It seems the market has written Arauca off, taking almost Billion dollars off the market cap.   I know very little about oil, but it seems to me an over reaction even if Arauca is written off by the company. I added at the end of the day today.   I now have a very significant holding.  If the company can maintain the dividend, that's