PVE po valley energy limited
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re: Ann: PVE commits to drill Gradizza-1 well... The Gradizza...

  1. danny3
    1,546 Posts.
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    12/05/13
    21:30
    Post #: 11754118
    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?
    PVE Price at posting: 11.0¢ Sentiment: LT Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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