be looking at an acquisition (possible partnership perhaps) . It's has to be either that or they have one hell of a drilling program planned.
That makes 3 out of 3 for CIE I believe in Angolan waters. Sure bodes well for EGY's block 5. Perhaps we'll see a pop today on that news.
- having to fund exploration from divestitures because they're unable to barrow any more money. Perhaps he can sell his billion dollar pipeline and drill some additional substandard balken and three fork wells. Those are HORRIBLE results for two mile laterals.
Since they were drilling for a deeper target, the Lucina, they could've had to set another string of pipe to get down due to pressure, or they could've had drilling problems (stuck pipe, twisted off and had to side track around original hole, etc.).. #$%$ happens, but I wouldn't be to concerned about the time frame, and I don't doubt his word..
Actually, from what I've seen on previous 2012 presentations of EGY the Dimba well is quite a distance from the HNR lease line - it is close to the joint 3D they shot with HNR but the acreage was entirely in the EGY lease. If they happened to stumble upon some Lucinda pay it could be nice news for both EGY and HNR.
They still have a decent size acreage position in western canada (duverney and wabumum acreage). If you go to their webpage and look at the dec. presentation you'll see what they have left. Don't know how much value is there. The main value is still with the joint oil block in the gulf of gabes.
bodes well for this little company holding block 5 in much shallower water depths. Time to get drilling boys...
Hmm, let's see:
It says the corporate secretarial responsibilities are switching from one person to another, and that Gerriatric is getting a reduction in pay.
This is bad news?
I would imagine about $30/shr. If and when that occurs the producers will just pass on those costs on to the consumers along with a nice bonus for their own wallets, thats usually how it works. I guess they don't teach econ 101 in that socialist country/state you live in.
That's pitiful - must be the polish way of doing things - check, recheck, recheck the recheck, ahh heck, they're all checks.