The northern end closer to infrastructure looking for gas, for gas plants connected to depleting fields.
Personally, very positive news. If cash and a residual interest in lease or sale of sections, great, this may fund 3D-seismic (c $10M) over canyon structure not too far from CVNs in the west, as long as the company has calculated the risks and believes 3D will be an attractor of a major. Could even run the 3D after CVN/STO in 2020, which I hadn't considered before, data collection from the same contractor, with environmental sign-off in motion. CVN/STO have to finish off seismic interrupted by early whales this year.
If a farm-in great too, fund seismic and even more hopefully a disproportionate share of a first well cost.
Nice to feel a little excitement with this one. TDO might be a trapdoor spider, who would have thought.
TDO Price at posting:
7.3¢ Sentiment: None Disclosure: Held
. TDO might be a trapdoor spider, who would have thought.
