Ann: Sasanof -1 Preparing to Drill Reservoir Section, page-36

On a success case it'll probably depend on how they characterize it. There can be a big difference between "we intersected one section of hydrocarbon shows and are evaluating their significance" and "Excellent hydrocarbon shows throughout the reservoir horizons suggest a resource at the higher end of our estimates". Then we'll probably have to wait for the pressure of half the market to finally get to derisk after not getting a good shot prespud or intra-drill for the foot to hit the gas. But obviously it's hard to say. I mean who would have predicted the lack of pre-spud run here?

At the same time beaten down holders might find it hard to imagine what can happen on a successful drill when sentiment really, really turns. Maybe all the selling down of the last week from bigger players derisking means they can't act as much of a brake?
I was just in MAYO and rode at least one parcel from 0.4c to 15c. Sometimes it's hard to believe there can be the upside there that the market is providing. And sometimes it's hard to believe all your money vanished in smoke when a drill dusts. All part of the game. Just got to plan as well as you can and make the best of it as it comes.