They said the Co was well funded for the current two well drilling campaign.
Think this CR largely relates to a new, third appraisal well for the upper sheet. Melbana 16 Feb update forecast this, last para:
https://www.melbana.com/site/cpfile/42d78b45-f862-4ea5-9b74-21f745899c98/MAY_2487178.pdf
“The testing of the oil interval in the Upper Sheet would require a new shallow appraisal well to be drilled, potentially from the Alameda-1 well pad. Planning and design work for this appraisal well is advanced in case the joint operation partners wish to drill this well immediately following the conclusion of the Zapato-1 exploration well. A decision on when to test this interval in the Upper Sheet will likely be influenced by the results of the prior flow test in the N Structure (and, we hope, possibly also the Alameda and Zapato Structures) as well as by the completion of the resource assessment of oil contained in the Upper Sheet which is well advanced.”
Bullish progress if it is …
They said the Co was well funded for the current two well...
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