Agree PS3 will be put us on the map.
I am confident it will be a success, as we already know the pressure at PS2 was about 16,000 psi, and being its the same Caley sand as ROC1 and ROC2 where we found gas and condensate - its safe conclude the Caley sand at PS3 (560 metres from PS2) will have high pressured gas and condensate.
The JV partners would have seen this on their 3D seismic.
The issue for me is whether it's a structural or a stratigraphic play - IMHO, its a stratigraphic.
Moreover, we should also consider the Barrett sand.
I know there is a lot of focus on the Caley sands which is the main play of course, but the Barret sand has about 16M barrels of oil (2c) - that is very useful as a tieback option.
Market Awake, page-7
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