Snatcher 2, I would term an appraisal well. It is close by to Snatcher 1 and most importantly has been chosen after more detailed study than perhaps was done with the unsuccessful Santos Charo 4 drill.
I would rate Snatcher 2 success at about 65% and to flow at about 300-400 bbls/day.
Whilst I am confident I was let down badly a couple of years ago when NZOG missed out on some adjacent drills to their very successful Tui field.
You can never be sure until it's drilled..... the drill bit does the talking.
ITC Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held