Eric: The deferment of the drilling of Rafael 1 until after the final costs of the Ungani production enhancement program are to hand, the anticipated increase in Ungani field performance and cash flow is confirmed, and the broader JV exploration structure is resolved, will allow the well to be drilled in a more commercially appropriate framework.
So appears they take a view on drilling Rafa this season (after Miani) when they know results of everything else. So if H wells go to plan in particular, it’s probably still a go. Key phrase is “broader JV exploration structure is resolved” by which I assume ROC could yet be persuaded to be on board. Makes sense that if everything else goes pear shaped, they won’t be in a position to consider Rafa 100%.
