re: Ann: PVE commits to drill Gradizza-1 well... The Gradizza prospect was identified from an interpretation of 68 kilometres of 2D seismic acquired by Eni. It has a 27% probability of success.
They've never given a success probability like that before, and 27% seems rather low. Can that be consistent with the project having low estimate prospective resources of 4.5bcf? Are the farm-in partners really gambling on such a low probability outcome?
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