I hear what you are saying but IF you didn't subscribe to the sp going up mantra one could wonder why anyone would hold?
I've been very critical of the freebies in particular in the raises in the past.
ATM you could say it was a genius move to do it at 13c and in 20-20 hindsight they should have took as much as they could get might have prevented the continual noise around $$ over that period.
I for one fully expected the sp to go up.....IMO the biggest issue was/is the lack of detail.
For example the 35m of reservoir, I fully get why its a paltry number given we only have 2 wells and the first one was riddled with disasters and lack of info retrieved, had it been 135m everything would have been different. I also think that the Upper A reservoirs are quite thin....but that could be a result of where we drilled which isn't the prime local.
I wanted a flow test there and then but not being able to access Lower A made it pointless, also its clear they want to turn it in to a production well so need to design that, so I now understand why it wasn't part of the plan.
Side track was the problem that caused the raise.
You could go back further and say the drilling past 3400m was a mistake but the company had independent advice on pressures, hope they got the sack, which they, in reality had no reason to suspect were wrong.
I'm hopeful of a reservoir upgrade soon too. If that 35m could be shifted much much higher prior to flow testing, I think the market may take note.
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