Agreed and had the previous well been a success we would likely have raised before Pavo. The hand has been forced and here we are. Couldn't risk a bad result at the next drill.
I'm of the opinion the JV has elected to drill Pavo first as it was probably considered the riskiest of the targets on the opposite side of the canyon. Doesn't matter to STO but to us finishing a campaign on a bad result would be punishing. We're now on the run home in the campaign with what will hopefully be a great result!!
Ann: Fully Underwritten Institutional Placement, page-85
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