To be honest I am quite surprised that Coe is drilling this well.
High risk, limited reward.
The chance of commercial success is low, oil only present near to fractures and even if the fractures flow you have major risk of water cut becoming verg high very quickly.
So many better way to spend $50 million plus.
As to why jka is involved?
The mind boggles why such a small player thinks this well could be a positive commercial result. Might as well place your money on black at the casino.
Good luck all
JKA Price at posting:
11.7¢ Sentiment: None Disclosure: Not Held
