Less than 9000 bopd, and cashflow negative early in field life. This stuff up is worse than Chinquetti. AZA look like a bunch of Cowboys. Actually they were too cheap to hire a bunch of Cowboys - just a man and a dog - with everything outsourced it all to consultants and contractors.
NXS was entirely correct last year to point back at AZA as having the riskily executed project.
The project start up phase is certainly looking to be the risky phase for ASX oilers: Bassgas, Exeter/Mutineer, Chinquetti, Enfield, and now BMG. Puts any dissapointment with Cliffhead in perspective.
Also makes you wary of others with projects without obvious inhouse project execution expertise, or those stretched with too many projects. AED, NDO, OEL, perhaps even the Tui project all looking riskier.
EL
AZA
anzon australia limited
