A flash blog today as I am travelling, will detail more tomorrow. AMER has announced its monthly production and OBA throughput numbers which are in line with my expectations. Average production of 6,051 b/d making 7,037 b/d including Mariposa-1 LTT which will rise substantially. Peak production was 7,217 with OBA throughput of 5,768 b/d and a peak of 7,066. Years exit rate will be over 7,000 as forecast and average just below 5,000 as expected due to Government actions beyond their control.
Genel Energy-Taq Taq ‘encouraging’…
Obviously the company are pleased to have a meaningful incremental producer on the field, but the real encouragement here is in the free water level being at least 145 metres lower than their previous working assumption. I am assuming that they will need time to work out what that means in terms of reserves, production and activity – and will have to put this result in the context of the overall field decline they have seen this year. But it is positive and nice to be on the front foot with Taq Taq after the disappointing news flow over the past couple of years.
Reabold has announced another deal today by which they have paid £1.5m for 29% of Danube Petroleum which has a 50% interest in the high impact Parta licence onshore Romania. The low risk nature of this investment, with two appraisal wells next year for a potential 33 BCF of gas and maybe some oil as well is typical of Reabold’s management style and I expect more to come. I have spoken to Steve Williams this morning and will write up in detail tomorrow. I will also detail the interesting deal done by Upland last week which more than franks their investment in the Corallian acquisition, I spoke briefly with Steve Staley and have a call with him also planned for tomorrow.