"The only Director I was impressed by yesterday was Dr Julian...

"The only Director I was impressed by yesterday was Dr Julian Fowles. Knowledgable and well spoken. Yet he seemed somewhat p!ssed for some reason"


Recent production results are disappointing.

HC won't accept my pic ... but it shows Bauna production of only around ~20bpd for the 3 days leading up to the AGM on 23Nov23. No gas problem.

This is up to the day before the AGM. Was production on Dr J's mind then?

I did note he said the pipes are running at 90 to 95% capacity. At the Sep23 Quarter Conference Call he said 95%.

Can we expect a return to production of 30kbpd?

Production guidance downgrade incoming? I doubt it. Dr J said emphatically, that the Bauna natural decline is 15%.


OPEC and COP28 meetings on thursday night.


Both the outgoing and incoming Chairmen were hit three times at the AGM, with the question about why retail shareholders appear to have been marginalised in the CR.

Each time they said they needed to move fast to secure the acquisition. This suggests it was a good deal ... unless our Chairmen are idiots, or servants for the BEOT.

I really don't think the market could be suggesting this is a bad deal ... if the Chairmen are to be believed.


State Street. Say no more. Accumulation time. The SP will be whatever the BEOT say it will be.