You can choose a ready guide in some celestial voice If you choose not to decide, you still have made a choice You can choose from phantom fears and kindness that can kill I will choose a path that’s clear
This article presents an update to our in-depth profile of Contango published in September. The company’s stock price has remained under significant pressure due to a number of company specific factors that we discuss in this update.
In a presentation today, Contango Oil & Gas CEO Kenneth Peak stated that the economics of oil and gas exploration in shallow Gulf of Mexico waters have improved significantly compared to 2008 conditions due to a dramatic decrease in dayrates for the jackup rigs used in shallow waters that has more than offset moderate increases in administrative and insurance costs. Mr. Peak also spoke at length about the new permit process in place and Contango’s efforts to adapt to changing regulatory requirements. Read this article for more details.