In today’s briefing:
- KOSPI Size Indices – The Outperformance Continues
- GeoPark Limited (NYSE: GPRK): Further exploration success in Colombia
- Southern Energy Corp. (SOUC LN/SOU CN): Positive Results at First DUC
KOSPI Size Indices – The Outperformance Continues
- The review period for the March rebalance of the KOSPI Size Indices started 1 December and will end 29 February. The changes will be implemented at the close 14 March.
- We currently see 3 migrations from MidCap to LargeCap, 3 new adds to LargeCap, 6 migrations from LargeCap to MidCap, and 11 migrations from SmallCap to MidCap.
- Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.
GeoPark Limited (NYSE: GPRK): Further exploration success in Colombia
- The Perico-1 exploration well at CPO-5 encountered hydrocarbons in the Barco (Guadalupe) formation.
- The well is currently producing 650 bbl/d of 14 deg API oil with 8% water cut.
- This is an important well that confirms the extension of the Llanos-34 Guadalupe play into CPO-5 and is probably derisking further prospects.
Southern Energy Corp. (SOUC LN/SOU CN): Positive Results at First DUC
- The recently completed GH 14-06 #3 Upper Selma Chalk well at Gwinville has delivered average natural gas flow rate in excess of 6.5 mmcf/d over the first days of production.
- By comparison, the 18-10#2 Upper Selma Chalk well completed in 1Q23 had an IP rate of only 3.3 mmcf/d.
- The three wells that are awaiting completion include the first two Lower Selma Chalk laterals, along with the second City Bank lateral.
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