hdr selling an over reaction, page-14

re: one more exploration well??? Welcome back to the big screen blackscorpion (not the best timing though unfortunately).

On another note - I wouldn't be suprised to see the jv sink another exploration well straight away (before they start on the development wells).

In the event of a discovery it would give them 3-4 mths to assess the data and plan an appraisal program which could kick off after the development wells for Ching. Otherwise they'll be on the back foot for a follow-up development to Tiof. I'm positive that's why they drilled the lower risk Capitaine and Merou wells prior to the development wells for Ching.

Cheers,
Butcherano.