This Week, or next week at the latest, we should see 3rd quarter production figures from STU.
Given January's 80,000+ barrels, one would hope to see production in the range of 230,000-260,000 barrels. Not bad with oil at US$110 barrel.
Contributing to this should be:
Worrior (STU 70%) which was quietly upgraded to 4000 BOPD in mid-Dec (from 3000 BOPD) after some "additional expert resources were made available". [2nd QTR report (16/1/2008)]. This alone should deliver 250,000 barrels this quarter.
Cleansweep (STU 50%) coming onstream Feb 1st at an initial rate of 120 BOPD, (having produced 400 BOPD) on test, which was being ramped up depending on reservoir performance.
Both Worrior and Cleansweep may see reserve upgrades also.
Even in this bear market, expect to see some rerating of this $60m oiler when the figures come out, and people start to do the math...
But DYOR
STU Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
