B429 has been drilled. The current prospect 1NSE1 extends into 429 & is currently being produced by the JV between Petrogal & Petrobras. I havent chkd the field name & its productn rate as i'd rather focus on the current well.
On the mercury report, page 27 lists all producing fields in this area & their respective operators.
Like Antman mentioned, Petrobras had a monopoly, being the state owned company, in Brazil. 10 years back, these blocks were offered to pvt operators for whom, every bucketful of oil produced, aided by the rising crude price, matters.
Next plan from here should b verify logs, run 2 DST's as there are 2 zones (upper & lower), release the flow rate to the mkt.
This could take a week as its not quite like the Cooper basin, so by friday i'd expect a frenzy depending on how ERH make their plans.
All the best. Peace & out Amigos.
ERH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
