Ann: Capital Raising of $50 million, page-67

@sin nikel,

Yes, it is very rare for this to happen.   Its an indication of the strong level of demand. 

I suspect the buyers (both Institutions and sophisticated investors) were mostly the same as the ones who took part last year. 

And they remembered the magnificent gains (more than 500% for a few months of risks) they made last year; obviously hoping for round 2. 

The market is always forward pricing, so given the demand level, I would hazard to opine the demand level will continue - even after 19th and 20th Feb. 

@kevin103, the first appraisal well should be about 1 to 2km away from Dorado 1.   It is with about 100% certainty they will find oil there - after all, their objective is to test how much oil (net pay) before they encountered water wet sand.   

We are doing this, so we can refine the volume estimates - say for example, Dorado 2 was 2km out and the drill encountered about 60 metres of net pay, then our volume estimates will likely increase to around 300M barrels (oh, I am basing this on the Liza 1 and Liza 2 wells offshore Guyana).