I think it's a good update from what they can provide at this point in time.
"The proven oil in the T1 Upper Miocene Sand was notaffected by the vertical well result and remains a viable target for a single well development via a sidetrackingof the vertical well and tie back to a nearby platform."
"The last assessment done in February 2020 assumed an oil price of US$55.85/bbl and thecurrent report reflects an average price of WTI of US$85.82/bbl for the life of field. If current oil prices of around US$100/bbl* were sustained, the project would have a higher value."
* Current price is US$96/bbl
We should hear more in H2 after the hurricane season in Louisiana (currently now, ending Nov 30).
It would be great for PRM to have another play / opportunity / JV lined up in the interim.
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Mkt cap ! $1.459M | |||
| Open | High | Low | Value | Volume |
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