Many companies might be struggling with execution in 2022 but Emerita has been delivering. The company had an ambitious job of drilling out La Romanera, drilling in El Cura, and drilling Nuevo Tintillo in 2022.
The company has been executing on the drilling at La Romanera. They have already drilled a lot with 8 rigs drilling away. But the company is increasing the pace even more.
David Gower did an interview today. He talked about many things but the ones that really stand out were: increasing to 12 rigs in IBW (from currently 10 rigs). We don’t know where the additional 2 rigs are going but I would think they want to focus on El Cura given the recent results from La Romanera.
Also Gower says in the interview that the selling in the shares has been overdone. Coming from someone that is conservative and has a gem of a track record, means a lot.
I’m looking forward for the drilling results from La Romanera and the drilling starting at El Cura. It is going to be a fun rest of 2022.