The likelyhood of gas being present in the system is not really...

The likelyhood of gas being present in the system is not really in any doubt. The question of whether the gas will flow at commercial rates is the big unknown and will decide whether PEP 11 is a goer or not. I wouldnt get too hung up about % chance of finding gas.

I look forward to another party joining the venture pre-drill.

For what it is worth I have not heard of any requirement to drill more than a commitment well, it would be a big ask of any company to drill again if no HC's present and findings of drill downgrade area.

However this JV will find gas at commercial rates...eh...maybe, well a fella in the pub said so!!!

regards
Pixby

i hold BUY