While we are all waiting with bated breath, parfticularly the...

While we are all waiting with bated breath, parfticularly the long term holders, I found it instructive today to go back and read some of the announcements from a couple of years ago when we were riding high. It really shows up the potential, particularly of the lower reservoirs. If you read the Ann below, it shows how they called TD on Alameda 1 for safety reasons. Marti basically blew them away:

17 March 2022
Drilling at Alameda-1 Completed

Highlights
• Drilling of the Alameda-1 well stopped at 3,916 metres measured depth (mMD) / 3,694
metres true vertical depth (mTVD) (predrill target total depth was 3,740 mTVD)
• Continuous excellent oil shows while drilling over a gross interval of almost 300 mMD
/ 245 mTVD in this objective alone, accompanied by the highest pressures
encountered to date in this well
• A further significant influx of oil and gas into the well bore and increased pressure
made calling total depth the prudent course of action, despite not having reached the
bottom of the potential reservoir section
• Drilling operations are now preparing to undertake electric logging which, depending
on results, is currently expected to be followed by flow testing

Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “We’ve reached the end
of the drilling phase of the Alameda-1 well – a challenging but rewarding journey, to be sure.
Yesterday we were prepared to keep drilling ahead beyond the target depth given we were still in
the reservoir, if it could be done safely given the rapid build up in pressure, but when this looked like
encroaching on our safety margins the decision to call total depth was made for us. In any case,
300 metres of highly energised interval (the most highly energised of the entire well) with excellent
oil indications intersected in this objective gives us a total of three significant intervals in this first
well.”
“Whilst we are all very excited about the potential scale of what we’ve encountered so far, the current
section needs to be confirmed by wireline logging to determine the net pay, followed by flow testing
to determine the potential productivity of this and the other intervals encountered to date to better
understand Block 9’s full potential.”

That all sounds pretty prospective to me. But we should also note that drilling to TD may not be that easy and may take longer then we think.