"I think the purpose of mentioning the flow test in this announcement is to indicate that we will be getting the results as part of the MK-2 appraisal well before the rig moves off location. And not several months later. Which I see as a massive positive."
On land a production test is generally done once rig is off location...ie you don't need a rig to run a production test. They'll run production casing and then tubing and then the rig will be released and testers will move in.
"I was expecting us to follow a similar path to Total / Africa Oil with their Luiperd-1X condensate discovery in South Africa. They reached TD on October 12, 2020. Announced the significant condensate discovery on October 28, 2020 following a comprehensive coring and logging program and prior to the DST. Opened the well to flow on November 1, 2020. Then released the drill stem test results on 07 December, 2020."
Offshore is a different kettle of fish when it comes to testing. You need the rig on location...for one thing you need a riser providing a physical connection between the rig and the well and you also need a sh*t load of deck space for your testing spread.
IVZ Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
