Yes you have to wonder what went wrong with the farmout process.
If you look at this 3D line from November 202x presentation you would want to drill this all day every day- rich in possible targets.
Looks like they were trying to sell as low risk development project but couldn’t get adequate certainty on threshold reserves.
Perhaps doing a strategic reset - eg now sell it as an exploration play - drill some step out wells and find out what the actual 2C/3C is. (500?, 1000? 2000? 5000????)
Then come up with a commercial plan. Not vice versa
So read is flawed initial strategy, pulled plug on process, return later with different ask.
BTW this is Mars Reeves prospect - sideshow
Yes you have to wonder what went wrong with the farmout process....
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