If the carbonates are highly fractured (and horizontal) they should result in some strong shows and then yes, would be reported. If the formation is tight, then some background HC's would just be ignored until the well is drilled to ~3,800m then wireline logs are run, then announced.
To be fair to MEO, they have not mentioned the carbonate/Epenarra horizon for several years, and it is unlikely HS-1 would have been designed to properly test this zone, so it could be a bonus, but more than likely a non-event. Having said that, from 3,500 - 4,500m we have several highly prospective and proven zones of interest.
MEO Price at posting:
19.0¢ Sentiment: LT Buy Disclosure: Held
