I mentioned that in my post to TheMonkMan last week. The others will simply nit-pick on whatever I post, regardless, so not worth going there.
For P#2, the mkt expects 'flowrates (test results)' i.e how much gas or condensate flowed.
That should happen, as KAR are listed here & have a lot riding on it, COP will mention this in their qtrly update in Houston.
The reserves won't come out yet, still have Kr#1 & Kr#2 etc to drill on the southern fringe of this structure, so quite some time to go.
Also the data frm P#1 was incomplete, so still early days. However I'd like to see them drill P#3 closer to the top of the crest, as using P#1 as a re-entry for a sidetrack at these depths can b risky, IMHO.
As of now, the 'P50 estimate' of 7.6 tcf is contingent resource, not 1P, 2P or 3P reserves as others have said. Pre-P#1 this 7.6 tcf was 'Prospective' & is now considered 'Contingent'. As the JV gathers more data frm drilling the Poseidon structure this Contingent resource will get rerated up, to the reserves category.
Until then 'P50 - 7.6 tcf is a pretty good set of numbers' as a former PM of Oz would have said :)
cheers
KAR Price at posting:
$11.07 Sentiment: Hold Disclosure: Held
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