I guess the market isn't reacting as I thought it would to this news.
The two most bearish pieces of information are:
Heavy crude oil: Heavy crude oils have API gravity of under 22.3 source: https://www.petro-online.com/news/fuel-for-thought/13/breaking-news/what-is-api-gravity/33309 Which means it is worth less then higher API.
source: extract from, 05/07/2023 9:18 am Alameda 2 First Production Results https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02683339-3A621181?access_token=83ff96335c2d45a094df02a206a39ff4
If it doesn't have a "measurable rate" in my opinion it fails the flow test.
Ann: Alameda 2 First Production Results, page-52
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