I'm not that knowledgable on these things, but the difference...

I'm not that knowledgable on these things, but the difference between true vertical depth and total depth doesn't make too much diference really to the static calculation, and as Neil_WA points out the bottom hole pressure in a circulating well would be much higher.
When a well is completed for production, is the annulus not sealed by a packer? so what difference would the annulus make?
My point is that without splitting hairs, the pressure in the reservoir is very good.
I hold a good shares holding in EMR and I am an optomist, and look and hope for a good outcome.
Thank you Neil_WA for an encouraging reply.