Hello John,thanks for your opinion. It's obvious these E&Ps are valued on their proven reserves.On the other hand<YOU HAVEN"T FOUND OIL YET.>,I have in fact found oil in Esteros#1( I am only vested in Rochester,25% share in Alcarvan and now the Miradores) and feel fairly confident, I will find oil in Esteros#3. It may be noted that the first well only tested one zone(4100 bopb). The well currently being drilled will test 2 additional zones, and rumored to be also increasing drilling depth an additional 1500',call it a long shot.
Now with slated pipeline/engineering design based on flows from these wells and construction scheduled for the first half of the year,as well as production through the pipeline scheduled for the second half of the year,transportation does concern me. From most the articles I've read, the transportation infra-structure seems to be the target(harder to blow up proven/potential reserves<vbg>) of these rebel groups and again this concerns me.
Both ROH and HEC (also PKC) need production to add to the credibility
of all involved,reserves are great,but you can't sell them(actually you can,HEC has<g>). It would be great to show a little cash being generated to the bottomline..IMHO..DD
PS: I agree, great things will come,but I want production to back'em up, in the near future these rebels could create an obstacle in our way.. |
