The words "hydrocarbon bearing" and "possible water cut" smell a little bit like oil to me. HCs could also mean gas of course, but given that they've run logs I assume that they would have said gas if that is what they found. Either way, the words "with work ongoing to determine its prospectivity" sound like it won't be long until we find out.
Anybody know if there are any oil producers in the area?
This is just pure speculation by the way, not ramping (holder for 2 years).
TEX Price at posting:
6.6¢ Sentiment: None Disclosure: Held
