Hey Coopec good notes. Read the slide preso referred to above and see the previous well in this region (Cuda) is reported in the slide show as abandoned due to overpressure and hence not a full test of the prospectivity. However Afren reported Cuda as water wet sst so some divergence of opinion there. Anyway liked the concepts of good quality reservoir sands ex Volta and rifting post Permian - explaining area is in oil window. It also looks like the Stena Drillmax is a top quality unit capable of making a top quality drill hole.
Its a while since we have seen a prospect with the sort of potential for a company as Starfish so it is reasonable Troy is excited - if successful it may make him one of the wealthiest CEO's in Australia. If this prospect is worth $4 to Tap sp thats about $900 mil for 15% (post GNOC split) ie 60 mil per %. I guess we have not forgotton the downside is probably 10 cents off the current sp (about 20 mil is my take on the current value of the 15% share in this prospect) . This is a dog eat dog world.
TAP Price at posting:
48.5¢ Sentiment: LT Buy Disclosure: Held
