Ann: Zapato-1ST Drilling Update and Option Expiry, page-138

I’m not expecting to find oil at z. Purely because the odds say we won’t. But I am expecting our ceo has alter production pathways ready to go, one if we hit at Zapato and one if we don’t. He can’t obviously announce it now as clearly what they do will depend on what they find at Zapato, but I would expect they will have a clear view on what the forward plan is (timing, funding etc) is the dont land Zapato.
so, in my view the best buying is now. If we hit we have two oil finds and they will announce a path forward - The price will surge forward unencumbered. If they miss, we have one great find and they will announce the path forward, which should hopefully offset the Zapato miss with the clarity the market seeks on alameda. We might dip temporarily but likely move forward quite quickly From these levels.

I’m starting to feel its a free hit at these prices.. providing we don’t have something out of left field hit us (like directors all selling more shares, unexpected cap raise etc).