The anticipated startup of production at W-1, West Rochelle, in September is getting nearer, every day. Remember, folks, the well is flow tested to be great, the pipe is in place, and the only thing preventing turning on the spigot is upgrade work on the platform that will do the pumping. So, the probability of success with it is very high. With W-1 generating revenues, even if early revenues are more dedicated to a paydown of costs, the revenue stream will be recognized and cash will be flowing. That is, essentially, payday!
Also the East Rochelle second well was to have started drilling in July, so pretty soon that will be up and running, too.
Then there is the phenomenal success with Apache at Bacchus.
Lots of great happenings and an expected several months of great news as projects get turned into cashflow.
We will probably look back and wished we had bought even more, now. I hope so!
Good luck, longs.
You may be right. Would welcome a second opinion on this but when I calculate the numbers for anticipated production from Alba, Bacchus and Rochelle..I come up with a number greater than the 20,000 be/day that Transier said was the goal. Put differently, Transier (my opinion) having been so wrong for so long on production has now opted for a different strategy.. He has deliberately held back production numbers. In this way, he hopes to offer us surprises on the upside and (for the first time in his career) exceed production expectations. Always better to underpromise and overdeliver I guess, but trust in Transier giving us the straight skinny is still an issue. Now..what do you think is meant by "production by Septmeber"? is that by 1st of sept or 30th? Thirty days of cash flow is important...
The production date is determined by the rig operator. Not only were they beefing up the rig to handle more volume, but they took over as the operator of the well. So, the ball is in their court. One would think they want the revenue as much as anyone and would want to get that rig pumping oil as soon as possible.