At first glance some might not realise that it's STO offering a farmin opportunity to CIG, and not the reverse:
"Caspian is evaluating an offer from Santos to farm-in to three prospective areas in their southern Fergana Basin licences, Soh and Tuzluk. The farm-in would be for a minimum of 2 wells (drilling with Caspian’s rig) to depths of up to 2,000m with mean unrisked reserves of 5-6 million barrels per prospect."
I would leap at the chance if I were CIG. I bet they could do a pretty sweet deal around the use of their rig. Otherwise STO might have some interesting fun and games trying to source another rig for the job. I understand these are the licences that STO had prioritised for running additional seismic over so maybe they are reasonably happy with what they've seen so far. I assume these prospects are some of the shallower and smaller sub-thrust targets that the Soviets never got onto. I think something on the Manas website mentions that every well drilled on these srtuctures to date has discovered commercial oil.
CIG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held