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re: Official Erin Energy (ERN) thread
Posted on 6/18/15 at 8:52 am to Iowa Golfer
Posted on 6/18/15 at 8:52 am to Iowa Golfer
just started production from OYO-7 well
quote:
Erin Energy (ERN +8.9%) opens sharply higher on news it has started production from its Oyo-7 well offshore Nigeria, a second development well that also uncovered hydrocarbons in a deeper untapped reservoir.
ERN says it expects to double oil production from the Oyo field, of which ERN is operator with a 100% interest.
This post was edited on 6/18/15 at 8:54 am
1
Posted on 6/18/15 at 8:57 am to Choctaw
I still expect it to settle back in the $6.5-$7 range. That range is optimistic given their revenue projections based on only OYO wells, but their potential with reserves allows it in my mind.
If it wasn't for management/cashflow/company past, the reserves could be valued significantly higher but I just don't see how you can do that without acknowledging the very real risk.
TL;DR
Given oil production and reserves, when adjusting for risk $6 is reasonable optimistic value in GenesChin's amateur mind
If it wasn't for management/cashflow/company past, the reserves could be valued significantly higher but I just don't see how you can do that without acknowledging the very real risk.
TL;DR
Given oil production and reserves, when adjusting for risk $6 is reasonable optimistic value in GenesChin's amateur mind
This post was edited on 6/18/15 at 9:01 am
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