I don't agree Wassa. I think the understanding of the field has been incorrect and this has been led by AKG who I think (I accept, with hindsight) have made wrong decisions. Look at the latest cement bond logs. AKG thought they were ok. MS advised he wasn't that happy with them. Turns out they were faulty. The interpretation of seismic and field and individual well development plans are largely being run by AKG. BUR doesn't have staff on-site. They rely of AKG reporting and to a large degree, interpreting. Bald and Sundich are financial people who have to rely on others expertise. Only MS has an understanding of what is required to get the product out of the ground. Unfortunately all of them work part time for BUR, and this is a bit of a sideline which does not get the attention I would like it to. That said, I think T3 will deliver. Heintschel has delivered consistently and imo this is more important than the problems encountered in bleeding it. A good operator will make money here.
BUR Price at posting:
0.9¢ Sentiment: None Disclosure: Held
