Ann: Surprise Project Development Update , page-12

Yes, that announcement sounds very encouraging to me.

Water cut was one of the two things I identified last time that CTP hadn't told us. Less than 10% and not increasing (in fact, decreasing) is great news.

The other was reservoir depletion indicated by pressure drop. They haven't given us anything concrete there but they do say the pressure is still high and building up quickly when shut in.

They will use that information together with a volumetric estimate from the 3D to calculate reserves, so I expect that will be a good result.

The confirmation that Surprise should support multiple wells is good too. The HVS and the flat spot in the Bitter Springs Fm are interesting but will struggle to be commercial, I don't think there will be enough gas to justify hooking it up (and it will likely be gas in the Bitter Springs, not oil). It'll also probably be tight because the Bitter Springs is extremely old, almost twice as old as the Stairway/HVS.