Ann: Preparations underway for start of Zapato-1 exploration well, page-442

Hey Brother, well if we forgive the timeline slippage due to the unforeseen downhole well pressure constraints & the impact that eventually had on flow testing I & N section (I know some won't) then we do run a little skinny on the news front for a coupe of weeks..

Hence why we're at 8.6c the same crew will argue....

Although I might point out MAY have been attributed 35mmbo for the upper section at 100% NEI (30% PSC) which at an igv of say $20Aud is $700'000'000.. Multiply that by a 70% chance of development as apportioned by McDaniel and you get $490'000'000..

Roughly double the current MC value, so I believe we won't be here too long before someone twigs.

As for news there is Zapato spudding circa 4th week of May I believe and also the resource upgrades from the confirmed net pay logs as announced below are pending..

And if we approximate the circa 10-12 weeks allocated below to get the return analysis updates then we might expect N section to be due around the 5th to the 19th of May & I section (Marti) around mid to late June..

Of course AP may try & tip a little acid on McD's to get the results out quicker seeing as how people are all terrible edgy & talk of failed wells gets peddled by trolls..

But if not, then I'm sure the value equation might anchor the current SP & hopefully exert some upward pressure as sense prevails over sentiment..

8teful


24-2-2022


7-4-2022