EXXI ops update

[setliff]

Energy XXI sees higher production, hits oil with Stricker probe • 10:59 AM

Energy XXI (EXXI +2.1%) provides an operations update, estimating its FQ2 production averaged 45K boe/day, with oil production exceeding 30K bbl/day vs. 29,700 in the preceding quarter.

EXXI says it uncovered 79 ft. of net oil pay with its Stricker exploration well at West Delta 30 in the Gulf of Mexico in six different reservoirs, five of which were previously untested and are new discoveries.

CEO John Schiller says said the find will lead to a multiple-well development program at the field to accelerate recovery of reserves.

[ghrcap]

I'd love to hear Schiller admit the Vermillion fiasco was a requirement of the acquisition from Exxon in 2010 that gave us other choice exploitation opportunities. Otherwise, two expensive dry holes at Pendragon and Merlin condemn his exploration engineering staff in my mind.

[dan_s]

Energy XXI (EXXI): An updated Net Income & Cash Flow Forecast has been posted under the Watch List Tab

[wilmawatts]

Oma Balita!

[setliff]

ok i googled and got many meanings, none which i could tie into this, so give joe--what the hell do you mean?

jim