Complete over-reaction from the market IMO. I'm looking for a swing back up to the mid 40's soon enough.
Market has missed the point of this well...sellers today wanted a gusher!!!
Nicolay #1 is not your traditional O n G play. See quote from previous ann. below.
"The primary objective of the Nicolay #1 well is to gather a comprehensive, modern data set over a large section of the Goldwyer formation (primary target) via a detailed program consisting of mud logging, full coring and electric wireline logs to be taken over a significant thickness of the prospective Goldwyer formation. Information regarding the secondary targets of the overlying Bongabinni and Nita formations will also be gathered."
Gasbag...you hit the nail on the head when you said.
"They should have cored from 2900m not 3150 - this explains why they are now considering a program of sidewall cores for the section above 3150 m."
They overshot the mark by a few hundred metres...easy to do when your 3.5 k's underground.
drum roll, page-32
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