They should get a decent amount of data around pressure of the various formations - i would expect if its at different pressure to existing F1/F2 well its clear they have found another untapped D5 column which isn't in communication with the current productive D5 sands in F1/F2.
Fairly muted reaction to what appears to have been as good of news as we could of expected. The real value will be how the well flows and the rate the well stabilise along with an indication of the decline rate.
F3 worth noting produced over 3mmbl itself in a little under 6 years of production averaging ~1400bopd over its entire life. Now if we have found a well anywhere near as good as that SP could easily be in the 2s with 1c cash backing.
OEL Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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