Char.ob is doing a very nice job of consistently adding to production and increasing cashflow and profits. They are working on increasing access to world pricing for their oil and aiming for a big increase to 13,000bpd by year end.
Contrary to several other juniors drilling in the Former Soviet Republics, they are having good success at extracting oil in decent quantities. CNR and TMY have struggled mightily to increase production even though both boast always about their huge reservoirs of oil. Neither has consistently produced or increased output. TMY seems closest but was below 1000bpd early this year and still shooting for 4-5000 by yearend. This is the same goal they declared was possible last year. So compared to it's rivals, CHAR.ob is doing very well.
Recent stock action has been positive and I expect that to continue into 2006. The field has many drilling sites left and Char is improving the efficiency of existing wells and hitting new ones on a steady pace. Bobwins
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