So some positives I hoping to be reported are:
An increase on the 300m OOIP - recently reported to be 375m.
An increase on the 6/8% porosity from the core results. I note a broker report mentioned the logs recorded this, and that the result may have been influenced by cement and calcium being pumped in during drilling operations. Phoenix-1 and Keraudren-1 recorded average porosity of 11% and 15% respectively. They went on to advise... We consequently see upside risk to this porosity estimate and note that any increase would not only improve oil in place estimates but could also lead to an increase in recovery factor.
An aggressive forward drilling campaign which would be a major indicator to me that the partners have serious belief in the region, and will attempt to deliver shareholder value asap.
I'm really bullish on our chances of exceeding expectations as a result of the sale of the remaining Thailand asset. Maybe I'm getting too far ahead of the curve, but it suggests to me cash is needed, as perhaps multiple drills are to be announced in a forward plan - which also suggests they may have commercial results in their hands now.
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