"Grace would not be the choice of KAR stevo. They had a contractual agreement to drill wa314. "
Sorry Bob, You have lost me there. Are you suggesting that they had no choice but to drill.?? Or are you refering to the drill in a certain time frame or lose the block arrangement with the gov't..? In which case they did have a choice, they could have handed the block back and saved 100 mill. A calculated risk that went very wrong for them.
Also, I don't think the number of baskets has changed either.
In terms of 314, Elvie is still on the table. They talked it up bigtime at the presentation day and I suspect why they drilled Grace to hold the block.
Solid well results will help, however I still maintain that Jv's which will better define value in the ground is the biggest catalyst for Sp movement.
Cheers,
Stevo
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13 | 157969 | 1.580 |
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11 | 86277 | 1.570 |
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