I re read it and I am convinced it's fluff. Note that they talk about a 3rd qrt drill , contigent on them finding a equity partner or two. So with no farmout sounds like they won't proceed. They haven't got rig, they haven't got an equity partner, the need to order the other materials. If this well is drilled in the 3rd quarter of this year I am happy to donate my left testicle to the Cooper retirement fund.
On a positive note, BPT made an announcement today which suggested they expect a good upgrade in PEL 92 reserves from the development drilling and current production performance ( the second part is particularly encouraging ie prod performace)
So i would expect at least 1 million from
The current CB drilling campaign net to CoE and probably a fair bit more.
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