They have said "it" again;
"(we have)strengthened our financial position in preparation for success in the N.W. Shelf(Phoenix South-1 well)".
The adjective "possible" is missing ,as before.
CVN are certainly in love with Phoenix as a result of what they were able to extract from the data and were able to convince Apache of to the point that Apache might have to put as much as $140m into drilling the lease.
It continues to be a great punt,IMO.
Ann: Investor Update, page-3
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