To be fair Jimmy those estimates are based on outdated pre drilling seismic interpretation. I'd take the October success rate and prospective resource as more accurate. Just disappointing that they've put a 15-33% CoS range without spelling out the breakdown. Oh well we've committed the cash now - this hole is really just a gamble. Perhaps 50c upside if it comes in and 20c downside if it doesn't? Maybe not worth it on a narrow ST SP basis, but I trust KAR management with drilling decisions.
grace spudded, page-41
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