Fedx,
There's no way you can dress it up, or word it away. Production at 20,000 bopd (or lower) means much lower NPV, and much lower sp than would otherwise occur.
Instead of getting a rerating on successful commissioning and derisking, are getting a sp fall in recognition that the risk event occurred.
Because AZA didn't exactly emphasise the bad news, imo the penny has still to drop with many, the full sp impact may only be felt after brokers have regigged their numbers and recommendations. Anyway goodluck, I was lucky, very lucky, with HDR. And in this case there is the REAL production FPSO to look forward to.
EL
AZA
anzon australia limited
