Now that the dust has settled and I have gotten over the disappointment I have re-read the announcement that was issued and it very interesting:
"The well was drilled to a total depth of 3518m MD and did not encounter a favorable reservoir quantity at Trident
As reported by Tangiers (28 July 2014), no hydrocarbon shows were encountered at Assaka the younger secondary objective in the Upper Jurassic"
They specifically mentioned 'No Hydrocarbons' at Assaka BUT only no favorable reservoir for Trident
Question: What then did they actually find and is this GALP's 'Tight Well' scenario keeping it closed until they have studied the results more closely.
And now we have a trading halt seemingly to clear the confusion over the companies finances all makes for interesting times
TPT Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held