From my experience dealing with reserves reports, CPR's etc, all NSAI will do at this point is get the data from the well (net to gross, pressure data at different choke sizes, logs etc.) and basically re-calibrate their model - therefore - all things being equal - there is unlikely to be much change to the numbers other than as T-Shirt says, moving some numbers from 3C to 2C. 2P (and 1P)can only be booked once there is a devlopment plan in place which is years away. I guess one revision downwards could come from some of the zones that don't look productive if that is the case - but who cares anyway.
I would expect that at least two more appraisal wells will be required before any decision to move to development is made (which I expect will be drilled back to back when the time comes) but getting approvals/budgets/rigs etc will take most of 2014 I suspect.
A good flow rate with acceptable CO2 levels is all we need now - the rest will just fall into place.
NEN Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
