dawn of paloma

Surprised there is little buying interest in SGY given drilling is expected to start next week.

While it is a deep well, and will take some time to drill, there are many exciting targets on the way to 15,000 feet.

SGY has increased its interest to 25% and is targetting an overall recoverable oil equiv of 33 million barrels.

For SGY their share would be round 8 million barrels. This is an existing producive field where previous deep wells were not drilled with modern techniques. The upside is that they actually are able to use these techniques to achieve a better yield from what resources may be down there.

Like all wells they are high risk, high reward. If successful this well could have a very meaningful impact on the value of the company, and underpin its plans for the bigger projects over the next twelve months.

DYOR to see the potential. Finally some excitement on the horizon!!! Excellent value at these prices, particularly given recent equity raising.