Golf
You're right, there is still a chance they will find something, but I would think it's pretty small. It looks as though where we have drilled is fairly barren when it comes to sand. 40m gross over 460m likely means lots of thin sandy streaks which are not ideal for offshore production.
Best hope is that even though there is little reservoir here, the analysis shows that there is gas, which means that the prospect is still valid, they just need to do some more work and try and figure out where the good sand is.
However, in my mind, I would have expected some elevated gas readings at surface if this was the case, which was not reported.
Anyway, I sold a few off this morning to have some money to play with elsewhere between now and P-2, but still holding most of mine. Hopefully I made a mistake!
Picko
trading halt, page-70
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