This is what CVN released on 8th Dec 2016 - at the time, we were...

This is what CVN released on 8th Dec 2016 - at the time, we were at 4840 metres.

"The rig is expected to take around 2-3 weeks to drill the final section of the well to a measured depth of approximately 5,500 metres and evaluate the Caley reservoir section with wireline logging tools."

One should note, the statement above provide an estimate of time it takes to drill to 5,500 metres and conduct wireline logging (which usually take a week).

The fact that we DID NOT drill to 5,500 metres (the measured depth) before they called a Trading Halt would suggest Good News.

This is because hydrocarbons rises to the top and that is where you expect to find it.   

In fact, I would be very concern if they drilled half way through the Caley sand before they reported signs of hydrocarbons  because that would suggest there wasn't much left and there was not enough pressure to drive it to the top of the Caley sand.

So the fact that it is at the top of the Caley sandstone would suggest there is enough pressure and there is a seal (Hove Shale).  In fact, this is very similar to both ROC1 and ROC2.

So Very Good News.


And IMHO, I believe we found hydrocarbons at the top of the Caley sandstone.  

How much of it is the unknown factor.

But the fact they called a trading halt would suggest something that will move the share price.

The above is all my personal opinion.

DYOR.