You'd hope this was coming together as they noticed piddling acceptances of the SPP and not some knee jerk deal.
Sadly, had CEPSA been one of those other companies mentioned and they'd only covered us for one drill, future analysis and past costs, we wouldn't even be raising now, or we'd be raising at lot less at probably 30 cents.
The fact they're raising now and talking about a rerate based on data next year, means they're expecting to tart this up for a raise again then too (or a takeover but it's been suggested they want to knock over a well before that happens), which suggests to me they aren't intending to farm out again on 12B.
Which is great if you hit a TD on that first well, but it also means there's a boatload more risk sitting on this now.
Given what I've seen here from these guys so far, I'd be a lot more comfortable if someone else was still paying the bills, especially if we don't luck out on first attempt.
SWE Price at posting:
15.5¢ Sentiment: None Disclosure: Held
