OGX: The funny thing is that this just goes to show that investors don't read company powerpoint slides. The company has presented the oil production rates for every month since production began, the 20000 number has been long-gone. The last production number they had published, as of April, was 9000 barrels per day if I remember correctly.
Clearly this oil complex is not as prolific as originally thought. But frankly OGX is not a one-trick pony, it has many other oil locations which will be brought up into production. The bar has been set pretty low from this first one though.
The big problem here is the headline loss of confidence in management's promises right now. Over promise, under deliver hurts.
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