they are going to core a 36.5m section, after encountering the first 9.5m of has shows, i.e. a 46m zone. Then they will have at least another 160m to T.D. (over which they will take further cores), and possibly drill another 400m+ to T.D., which given eni's Blackwood interpretation (deep GWC) seems very likely.
the real value of this afternoon's news is it tells us the reservoir quality sands were encountered as prognoses, contained gas, as expected, presumably saturated (as per coring) and on balance suggest that the central Plover is likely to be what we were hoping for, gas saturated and possibly with liquids.
the chance of a flare above the E109 in a couple of weeks just increased dramatically, but to the informed, expectedly.
MEO Price at posting:
21.0¢ Sentiment: LT Buy Disclosure: Held