Scott told us, there was nothing to worry about, and that no discovery was declared 6 months ago because of tool failure. Yet, at that time I recall Roch saying it was a duster.
At first, we were told that the Pebbly Arkose was exiting, high resistivity in places, pressure measurements indicating over pressure and a probably hudrocarbon column, and mud losses. However, todoay they have said that they are excited because they think THERE MIGHT BE hydrocarbons in the PA at MK-2 !! It is quite clear that MK-2 is just another wilcat well.
So, if the post Dande is probably tight, the Forest is low volume, then potential success seems to be hinged on finding commercial gas or oil in the Lower Angwa and the Upper Angwa.
I wish they had done a more thorogh analysis at the start.
IVZ Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
