All this talk of dusters - Read my lips HS1 is an APPRAISAL WELL. It won't be a duster because there is gas down there. They are in effect building a production well, as that is the aim - to production test this resource. This will determine how many wells they need to successfully exploit the resource.
You can't compare Artemis to HS1. You can't event compare it to Seruway - Seruway is a proven O&G province - they are just bringing better remote sensing technology to the party, in order to better locate where to drill.
Artemis was a hard core wildcat - lots of risk, lots of reward. And even then, we still don't know if there are plans for further exploration at this stage.
People are wanting absolutes in an industry that can't provide them. I do surface shallow investigative drilling, and it's amazing the amount of certainty people want you to provide from drilling 2 or 3 150mm diameter bores over wide areas. The scale these guys work on is so much bigger and yet people want just as much certainty!
MEO Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
