I believe this update alone will generate significant buzz both...

I believe this update alone will generate significant buzz both across the country and within the industry. People talk, and so far, the success has activated increased market support, resulting in a rising share price, improved liquidity, and higher trading volumes.

It seems the market is now de-risking the remaining flow tests. The market will need some time to fully grasp the significance of EXR's position. Given the premium location, proximity to infrastructure, and neighboring partners, the market will come to see the value in EXR's assets.

It’s quite remarkable that a fairly straightforward vertical well has produced strong results from depths over 4 km, along with unexpectedly high levels of free-flowing gas approaching commercial viability. With these developments, EXR is in a compelling position.

There could be further positive surprises, such as substantial gas condensate from the remaining zones or earlier-than-expected developments with Mongolia and potential partners eager to tap into the area's massive potential.

It’s also worth considering what Shell might be achieving next door with more advanced horizontal wells.

In time, we’ll need to evaluate EXR more closely, not just in terms of flow rates but by comparing its metrics to its peers in similar situations.