Thanks Ya. So not two but three appraisal wells to test the attic theory - by the time they take FID they will know exactly what they are dealing with. Most of the residual risk around this project will be that first well, Buffalo East 1. If it’s successful and proves attic oil, it becomes a very low-risk project thereafter.
And that’s project risk - if CVN can farm down Buffalo East 1 and get the farm-in partner to pay the bulk of it, even that risk essentially transfers to the farm-in partner.
CVN the Big Picture, page-71
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