Ann: Block 9 Alameda 3 Appraisal Update (Alameda reservoir), page-314

I’m a layman in regard to O&G but it’s Probably because we don’t have the time with the rig and/or the confidence that we have the right engineering solution to risk failing a 3rd time on the spin.

We have somehow snatched defeat from the jaws of victory on this one.

Considering the success of A1 and A2 I don’t think MAY have set out to fail on A3, where success would have had the potential to lift us into the stratosphere if it was good. AP is ultimately accountable for a time consuming near 9 month drill that has yielded nothing so far and the decisions that have led to it failing. Frustrating in the fact that we actually know there is oil down there and more bewildering still that it’s pressurised to come up but we somehow managed to prevent it!

It wont be long until the plans of 1b are known, hopefully they’re commercially lucrative and without delay. It’s really not that long till the end of the year in the grand scheme of things
so just gotta ride this ball breaking roller coaster a bit longer.

There does need to be some accountability for this drill though, the inconsistent flow (no pun intended) of information and Announcements and also the insider knowledge leading to trading ahead of the market knowing.