My view is that the pressure regime is the big question mark with this, as it’s impacted the well bore and logging tools in that final section implies it may have buckled under the pressure. It’s not a negative thing and the tool readings may be inconclusive from that hence the signs of water may be a touch premature. I suspect they were close to a fall blowout type scenario.
The sidetrack is a prudent step to make sure the section is properly tested. It does look like the subsurface in each section is complex with different pressure regimes which can be properly dealt with if we drill properly. As I said it may come down to some lab tests on cores to get a full picture of what we have and maybe new 3D seismic to better define the structure.
best of luck holders
MAY Price at posting:
12.5¢ Sentiment: Hold Disclosure: Not Held
