As we know we are currently undergoing flow tests on 23H, whether there will be an announcement this week or next we will have to wait and see, but with PB allegedly flying over (or is that flown), indications may be good for chest pounding from an optimistic glass half full point of view. The half empty guys of course may suggest it's damage control.
With time running out they may have moved or are currently moving the rig to 25H. I look forward to the announcement that they have started drilling there. They might only have until early May before they have to debug from that site and we have to wait another year. Fingers crossed that 'may' be enough time to complete. On the upside they have also appeared to have learnt their lessons from last year and 23H appears to have been drilled with little or no mishap from a mechanical point of view.
The crux of the matter of course is moving or increasing the P1 Reserves of this valuable light crude.
Of course if it does come off as we hope, then we will be looking at major infrastructure- permanent road for starters, which will pass through a controversial area, a town for the workers and (pulling a number out of the hat) 12 or so wells working year round. My thought would bring such to around 2018 give or take a year.
Anyone else have thoughts on the subject whilst we await the good/bad news.
LNC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
