Aussie
By definition a well that is uneconomic is equivalent to a duster. So finding oil that cant be produced profitably is of no worth. In fact I would argue continually to chase uneconomic wells that offer hope of being economic is worse as more money is blown that way. Objectively look at the money they have spent and the revenue they have earned and you will see its not even close to breaking even. Alternatively, see if you can find any other company that is making money in this region with these wells.
the problem with unconventional, its not like a conventional well where if you are lucky enough to land on a big discovery it will be company changing, the nature of shale wells is lots and lots of little wells to extract oil that is "tight" Problem with that is, its really hard to be cash flow positive ( even at 80 dollars) as the sustaining capex is very high and even of 2/3 wells and marginally positive, 1/3 uneconomic wells blows the margin
the reason why I suggested everyone looms at previous announcement is because these announcements have made it look like many of the previous discoveries where great, adding value discoveries when they were not, furthermore many discoveries were announced after a TH which is also potentially deceptive as it implies very important news.
In summary, finding oil is expected in most wells, and whether oil flows to surface, is dripping from string etc, it matters not. lastly look at the costs to drill and admin costs and you will see AKK are simply not going to be cash flow positive. In the end its up to each individual to make their own decisions, but I think what many posters like me and SL and Cmon, Dianella, etc are trying to do is warn you we believe this company are masters at spin and wealth destruction. The incomes they have pulled from AKK while blowing up 10s of millions in the last few years is shameful and we worry this is why the music keeps on playing
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