Elango resigning after 8+ years with the company is a big negative since its professionally managed. However Jeeva is still at the helm and has similar experience in both Oil & Gas as well as HOEC and is a technical person as well. But Jeeva is older than Elango so market sees this as a big negative perhaps.
IMO, Elango retiring post bringing online B80 is a respectable finish to his career and I always believe in ending on a high, so wouldn’t wish anything else to others. Since the wells are now running and even the pending hose repairs appear to have been completed, this shouldn’t affect the long-term value of the company.
The numbers being below par should get clarified in the call. Going by Note #3, offtake was lower from Dirok due to maintenance at customer’s end. Value of an oil-field is done based on long-term projection like 10 or 15 yrs and numbers of a single-quarter means nothing, unless there is some serious technical issue affecting long-term value, which I doubt could be the case here.
I could be wrong
Disc: Invested, no recent transactions
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