Fingers crossed. I'm honestly very surprised that VEN hasn't moved more, given their larger stake. Seems like they're a bit of a market unknown, with potentially a bit of spooking around the Co2 announcement.
If this is indeed commercial, the market hasn't gone close to pricing it in yet. I doubt the oil side of things will come to much in this instance, but could be significant for other targets in the tenement. The huge factor for me is the porosity cutoff applied, and the statement of the 35m section being on the high side of expectations. I'd imagine that we'll get some sort of announcement next week, even if it is just gas composition. Hoping that they test the upper section that had strong gas shows too. Could be a little bit of extra icing on the top.
MEL Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
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