I just listened to the interview, and I previously misinterpreted the announcement in relation to drilling results, and I misinterpreted posts.
Neil was very definitive when he said they hit basement, he actually said the Permian was not present (or "fleeting" in its presence) at this location, in this sub basin. So nothing to see deeper here...assuming the "basement lithology" was readily and unambiguously identified in the drill cuttings.
As I said before, this info will not go to waste. The info will now be reconciled with regional data and seismic and I bet my bottom dollar a new location will be identified in this sub-basin which will target the Permian. Its too big a sub-basin to dismiss on one hole alone.
The key take home, is they have money, they have targets, and they have discoveries already under their belt and future business initiatives...LTH would be crazy to sell now. DYOR
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(20min delay)