Can't use direct correlation in the depth data between WE3 and ED1. STX reports measured depths, not TVD. Note: MD will always be longer than TVD cos drilling is never a linear exercise. Drilling through the Carynginia Shale also isn't easy because (1) it is very hard to penetrate, thus makes for a great cap/seal (2) at WE3, it was highly over-pressurised. If that's the case here, then they will need to manage the pressure as well which will slow things down.
Either way, shouldn't be too far away
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STX Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
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