I need to correct an error here. I was in a bit of a rush and did not read ann carefully.
The oil did not flow to surface unassisted. It made it 8/10ths of the way up and ran out of steam ("killed itself" - poor choice of words for non tech people, would have scared a lot of punters on here) - meaning pressure losses were enough to prevent the oil from making it all the way to surface.
They conducted the test through slotted liner. The entire Unit 3 interval was covered and they had co-mingled flow from the three best spots. Other than circulating the drill fluid, they did no other clean up. Don't know if they have enough data to calculate skin effect. Lets see what they do and how it shapes up once they decide what to do.
Cant believe the sell off given there is an implied nearly 6 fold increase in Amistad resources. Getting close to another Varadero.
MAY Price at posting:
7.1¢ Sentiment: Buy Disclosure: Held
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