Post by
Gringotts on Apr 28, 2023 8:46am
News worthy stuff ... for sure!
Great news release!
1. Wassana production restart (sooner than expected)
2. 100% working interest
3. increasing field output to approximately 5000 bbls/d
4. Divesting of Rossukon (G6/48) for $5 million payment and 4.65% royality (when oil flows). Bo capital risk to VLE. Might be avery smart move.
Comment by
cyber37 on Apr 28, 2023 12:38pm
Totally agree. With Wassana acquisition, I think we are beginning to see some focused and selective assets management. Rossukon sale is another example of this rationalization, where potential $100 million (gross) of capital expenditures were on the line. I see signs of some prudent management & judging from share price today so is market. G37