It just seems rather odd to make a bid for another operator then a week later another operator makes an announcement of hydrocarbon discovery close by.
Obviously the issue is composition and quality, but it does bode well for future wells in the area. Unfortunately in oil and gas it’s not an exact until the drill bit hits the sweet stuff.
Charlie at this point seems to be in the bottom drawer until full lab results are known. The condensate ratio will be important as I interpret it too be quite a wet gas.
Ann: OFF-MARKET TAKEOVER BID FOR XCD ENERGY LIMITED, page-117
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