CVN has reported that Apus 1 is a dry hole .
This was always the most likely result for this well as there was considerable risk for the migration pathway , seal and reservoir quality .
The news was not completely bad as there were non commercial indications of hydrocarbons and good reservoir quality .
I would have expected a good kick in the TDO price if Apus had been a big discovery and we might see some nearology speculators leave on this news .
However this result imo does not have a great bearing on the overall strategy of the company or the value of its Bedout Basin prospects
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