Ann: Kronos-1 Progress Report No 6 , page-18

John Lucas 1, There is some common misconception on Kronos1 being a seperate structure from P1 and P2. It is all the same structure, which is what makes Kronos1 much more certain of a drill than either P1 or P2. They already know what's there and also with the new seismic 3D they have much more certainty of where to drill.
They named the project Kronos1 instead of P3 to help camoflage the issue because they want this well to qualify as an "exploration" well instead of an appraisal well to fulfill their leasehold obligations of drilling 3 exploration wells in this block. So they get to kill two birds with one stone, qualify it as an "exploration" well (wink wink) and at the same time define the huge Poseidon find. If the market understood this we would already be over $11, which provides some nice upside potential.