Ann: Company Insight - Ungani North and Appointme, page-2

re: Ann: Company Insight - Ungani North and A...
ES says in insight interview:

“What’s really exciting about Ungani North1 as far as the conventional oil potential goes is that it confirms that the geological features we saw in Ungani are not a one off. It means our technical understanding of the Ungani oil trend is sound and the very significant upside we see in this area has been substantially de-risked. “

“The potential in the deeper section is also very exciting. We saw strong oil and gas shows in the Nullara Formation when we drilled the original Ungani discovery well, so we were keen to see what was in this well. We have encountered a thick section of limestones and shales with very strong gas shows. The geology is similar to what was seen in Ungani, but the section is thicker.“

I say:

“Let them exercise their options, IMO they earned it.”