The fall in gas prices may have something to do with it. Still think it is a bargain around these prices.
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The fall in gas prices may have something to do with it. Still think it is a bargain around these prices.
Santos reported in their QE 30062012 “Oil production from Oyong was almost 50% higher than Q1 2012 due to additional production from the Oyong infill well drilled in the first quarter and the shutdowns required in the first quarter to bring Wortel online. “
Did anyone notice:
Cue reported in their QE 30062012
"• Oyong Field
Cue’s share of condensate sales receipts was 368 barrels which generated A$0.03 million in revenue and gas sales of 377,829
mcf which generated A$1.0 million in revenue received during the quarter. The Oyong oil production rate is currently around
2500 bopd (gross) and the gas rate is 38 MMscfd (gross). The reliability of the production facilities has been excellent."
Andrew Knox has been quick to confirm "Oyong produced but we didn't get any lifting receipts until July. Wortel is producing at roughly twice Oyong gas and yes at approximately twice the price."
I also noted "Some Maari revenue was delayed until July due to the change to quarterly liftings"
With the SP under pressure from a persistent seller (possibly E.Albers???), production figures missing 3 months of Oyong and some Maari production, little to drive the short term SP is it time for a takeover ???
Anyway, next QE results should be superb ...
All in all , a strong report from CUE for the Q~! Expect influence from WPL who are short of gas . Wait for result of Ananke -1 well which if positive will say something for Maxwell prospect ; or if Ananke-1 is a dud , WPL could be looking at Catalina to source more gas .
Cheaper than the 42c Blocky paid a fair while ago, sticking with them though, oil is always an up and down caper
Strachan , out with detailed large report on the CUE , yesterday . I would refer people to have a look , too much for me to post .
Note : Strachan => Stockanalysis Report .
Subscribers only? Or have I missed something?
Subscribers only , but maybe CUE may help !!!