Ann: Ungani 4ST1 Update and Completion of 2018 Drilling Program, page-3

I agree with you regarding them deciding to finish the drilling program so early.

It barely even began!

From earlier in the year when Eric said they would be drilling through to early in 2019, which would then see a bigger rig come in, oh how things have changed. I can only assume that ROC has said, nope, we have had enough of sub par results, we want to start afresh in 2019, once all the seismic is done etc. I also think the rig being pulled, shows a lack of confidence in all of the Ungani Field wells, why else pack it up???? They just drilled 2 wells and completed them, finally they are doing what they are supposed to do and you send them away...... Also, its as I mentioned last week, terrible cost wise to keep mobilizing and de-mobilizing rigs...  mobilize 

Regarding the well result, at least they successfully finished the well.

However, the results (I use that term loosely as they have basically given us very little) are a different matter.

I find it strange that they mention 'several zones of good quality reservoir', as compared to U1&2 which I think, had much more homogeneous zone. The fact they are bring the well online does seem to imply that they are confident it will flow, which at least means higher production and no U 4 ST2 (which would have been another $4-5m spent on a single well). 

Erics lack of comment in the announcement also puzzles me, or perhaps speaks a thousand words, as in, the result is ok, but... not as good as hoped etc. Sure, lots of conjecture, but as others have pointed out, the company has really changed quite quickly in regards to the information its been releasing to the market in regards to operational updates etc. Which is highly disappointing.

Perhaps all my pessimism is misplaced, and the well will flow at very good rates, we will see, should find out by Monday next week?