>>23393930I don't know much about their prospects but their recent years' track record in Finding & Developing costs has been absolutely horrendous. That's kind of the salt of the conventionals, you never really know what you get. Pool hunting is often very unpredictable and conventional discoveries have not kept up with depletion even before the shale boom began (in fact the shale boom was a direct result of the drought in reserve replacement). Parex may be able to make some lucky discoveries or improve the corporate FD&A via acquisitions.
There's a very good reason why the majors are all consolidating shale, developing oil sands or drilling ultradeep offshore wells. There will always be some value in good conventionals but growth in that side of the biz is difficult and money just isn't flowing that way since there are better prospects and bigger money elsewhere
>>23393944almost as if he's a contrarian who buys low and sells high. Don't hate the man, be like him.
>>23393945I actually didn't know Nexgen already had contracted volumes. Are they binding? Good info as usual Nigel!
