...seems to me they are just saving a bit of cash by releasing the rig, I guess for say three weeks until they have counted up how much cash is to hand and then decide if a new hole near Surprise or a rentry. New hole is they have plenty of cash.
I suspect they learned a lot from the drilling of the horizontal and I would expect a lot further horizontal distance achieved next time.
Most likely with a clean hole, no buggerised mud filled fissures or fractures, and a planned three horizontal lateral after some 3-D siesmic and I think it may all start to look very attractive and commercial.
I would guess if all this comes to pass then looking at least to end April for the next lot of great news.
CTP Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held
