Price is holding steady, little to no volume. There's good news around the corner that we're not being told yet.
1) Alaska paying MILL on e&p credits
2) RU-3 "de-watered" and producing
3) Pump on RU7 replaced, RU1 turned back up (and rig moved to another re-work)
4) Otter shows gas
5) Pipeline financing deal
6) Tennessee well #2 producing
Those are the things in the pipeline right now. Two out of three would be great. Not a good time to take a short position. There are other things of course, like when the midstream business from Apache starts coming in. Maybe a joint venture on the pipeline.
2013 will be good. 2014 will be incredible.
Getting close to summer. Olejos needs throw a party.
All you shorts go ahead and slam away. But if your not careful, you might lose some money!
Read the article in Homer news and State of Alaska production data. Wilcox says 1000bbl/day, State of Alaska reports 8205 for month of December for Osprey. Include West McArthur river production, then you get the 1000bbl/day. Not wishing to throw Wilcox under the bus on this one, I believe that he meant that CIE is producing 1000bbl/day, not Osprey platform. Maybe the news reporter made mistake on article.