Post by
firstworld on Jul 09, 2024 1:29pm
VERY SERIOUS PROBLEMS
Obviously the cracks, not repaired yet and would be if minor, are very serious looking at 25% production loss for months.
The fact there are plural "experts" assessing indicates far more serious issues VS simple cracks.
The damage from being hit by anothher vessel before (production loss then as well) was likely not proprty assessed or not disclosed so as to not depres SP motre than is was with the prolonged production loss.
Shutting in Wassana after only 1 yr or so of VLE operations and $300M infill drilling will sink the company because it demonstrates the basic asumptions based on modelling and infill drilling results are NOT SUSTAINABLE in any way.
Looks like boat passengers jumping ship before news.
Dump now. Buy back after Wassana
Looks like 2024 production will be 16K bbl day suckin g all bragged cash and adding debt to maintaing basic ops.
With after tax profit of around $8 bbl, my predicition that the smallest hiccup, in coinstantly fialing operations, would take company to negative cash flow and losses.