re: Ann: East Mailisu Interim Drilling Activi...
its a pretty disgraceful update. You would think a better interpretation would have been forthcoming with some diagram atleast
The oil shows are only promising because they existed, this drill program was really to test bed vii which did not have anything!!
The only thing we can hope to look for is a massive gas showing to save this well. And even then a back end agreement with santos allows them to come in and shaft cig for a slice of the hard work......This is why i believe the next target is at ~850m well below the 1000m that caspian has the rights to.
I really believe CIG was really after the gas and not so much the oil. Hence the blaze ann GAs is hot now really hot Its funny that CIg has always concentrated on oil and now they are looking for gas hahahahahah desperate i say.
CIG Price at posting:
16.0¢ Sentiment: ST Buy Disclosure: Held
