Ann: Total depth reached at Zapato-1ST, page-289

IMHO - I’m not surprised calling TD, especially as they believe the antiform was penetrated by the well. They would have run sonic & density logs, & possibly a velocity survey. This would then enable a well synthetic to be created to tie to the seismic, and yield a more robust velocity model. I suspect this clearly showed that the well penetrated the antiform dip panel on the seismic. This 2D seismic is quite poor in quality & one can interpret almost anything on it (IMHO, and on any of the published lines for that matter), and there is no hint of an anticline deeper than that dip panel: thus, no indication of a potential trap, and no economic reason to keep drilling. Further drilling would eventually be likely to encounter the base of the ophiolite and top carbonates, which would be a good academic & explorational data point to have, but at what cost when that depth is unknown.

MAY’s best bet now is to get a flow test on any of the potential reservoirs encountered in A-1. This would then give credence to the economic potential of the reservoir(s) and move “potential resource” into the proven category, where the real value to shareholders lies. Note that to formally move 100’s of millions of barrels into the rigorously defined proven resource category on a potentially very large structure will require many more wells, flow/production tests, probably more (3D?) seismic, and time - which all equates to $$$$ to be spent.