The terminology could be used two ways. O-2 is one well that could conceivably be called both an appraisal well and a wildcat.
It's an appraisal well because it's being drilled to appraise results found on a previous well (O-1).
But it's still a sort of wildcat because O-1 was not really measured to determine whether it could be economic. A wildcat is a well drilled outside a known oil/gas deposit, and O-1 can't really be said to have found a deposit. Just that it found a bit of gas, which at the time was not economic and not what they were looking for, so they didn't bother to actually properly study what they'd found. So CTP is pretty much taking a wildcat approach.
Of course, calling it an Appraisal well sounds much better in announcements. :)
CTP Price at posting:
33.5¢ Sentiment: None Disclosure: Not Held
