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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE
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To: Blaumax who wrote (823)8/5/2000 3:45:19 AM
From: Blaumax  Read Replies (1) of 864
 
One last post.

There's been some talk on other threads about how production seems to decrease on SIY's Issaran wells. After reviewing TYK's data on the Hana wells, I noticed the same trend. I think it's called 'stabilization'. But yet, no one seems to be getting all that excited over it on their respective threads!

Hana 2
September 27,99 (2,180 BOPD)
February 14,00 (1,650 BOPD)
March 2,00 (1,500 BOPD)

The other aspect that affects production is mechanical problems and re-works. Much of the equipment in Egypt is old and needs to be replaced on the existing wells. Therefore shutdowns are inevitable. Each annual report said as much. Case in point was Vanguard. They were averaging around 800BOPD for the 1Q and were down to 522BOPD ending July 31 because of maintainence/reworks. But...nobody is calling for heads to roll on VA's threads because of the temporary decrease in production! So...could this also be a norm in the industry?
However, I did like Vanguards website in that it gives a weekly update on production. Also provides a reason why a certain well is shut down. That way there's no surprises when a PR comes out and production happens to be down that week.
Anyway, feel free to punch holes in anything I've said over the last few posts. Those posts are just my calculations and observations. That's what these threads are there for, aren't they? To provide a reasonable discussion that may provide insight into any possible investment decisions that you might or have made? I always thought so.
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