I’m more familiar with the term suspended. At a guess I’d say this program is designed to test to see if the formation is potentially oil bearing. Would seem that if it is then the vertical drill will at best perform a DST and if at that stage they think it could be productive then it’s still genuinely abandoned (vert well). If follow up is worthwhile they would in time horizontal drill it for production. Wouldn’t expect it to have any meaningful impact on SP though.
The NW shelf seems to be the crown jewel, do they have plans to drill that anytime soon?
CUE Price at posting:
7.1¢ Sentiment: None Disclosure: Not Held
