As I've said it can take up to 9 wells to understand optimal drilling techniques to unlock the prize. Carbonates can be fickle reservoirs and added to that heavy oil makes it a difficult proposition. Most of the know how in carbonate drilling exists in the Middle East, it's also where much of the worlds oil reserves are located.
Ideally it's best to drill and then get into production quickly once well control becomes apparent as long as there is good pressure and reservoir being intersected. If the aim is to establish profitable production keep it simple and repetitive. Many of the older oil fields in the US have thousands of wells in production over many decades of production.
MAY Price at posting:
2.6¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)