gas discovery high island block 24 l gulf of mexic, page-6

Why is this so seriously negative? It's not anymore negative than any other dry holes. The fact that the reservoir contains HC is promising, and shows that the migration path goes across SM138. Now they just have to find where there's good reservoir sands. The two discoveries in SM139 demonstrates that good productive reservoir sands do exist.

This has no impact on the reserves at H24L, nor the revenue that it is expected to bring for the next few years. As madan said, it's trading at a discount to the value of H24L alone. I topped up today.

Cheers,
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