re: Ann: Production growth to continue at Sna... I find it interesting how non of you are mentioning their reserves for a market cap of just $50 odd million and producing an avg 500+ boepd.
As of their current report they have around 3.5m boe in the 1p (with not much in the proved producing). What do you all think happens as you drill more wells that are producing?????
What do you think happens to the 1p overall number?
Again, I think this is a company that unfortunately is doing the predictable thing of drilling 2 wells a month, every month at only $600k per well.
THEY ARE not a company that is spending $9m per well which may take 3-6 months to MAYBE get some amaaaazing IP flow rates. As these companies are the ones that go up on pure hope of the next big thing.
God forbid you were predictably growing a very valuable asset, the banks would hate to lend these blokes money in the future to fund their development.
Apologies for the sarcasm and rant and again all in my own opinion and DYOR.
re: Ann: Production growth to continue at Sna... I find it...
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