Perhaps they actually hit a pressurized zone exactly where they expected it would be - but it contained something other than hydrocarbons?
It's highly likely that the reason why Petrobas only signed up for 1 well with an option for follow-up is because there was no doubt about the existence of the target zones based on the seismic studies - the only doubt was what those zones actually contained.
I think the most likely explanation of the result is that the reservoir exists, but it is full of something other than useful gas - in that case, why continue drilling?
MEO Price at posting:
22.5¢ Sentiment: None Disclosure: Held
