Remember SOA is in a difficult area and the 3D will not give you everything for drilling. The only time to prove a spot is to punch a hole and find out. The small frac in no way could recover expenses, in fact, it added expenses.
Drilling is salt domes, or around salt domes, is difficult. Each area is different. IMHO SOA was a low cost drill to find out information and SOA accomplished this task. Now we have a better understanding of the structure and now develop a plan for future drilling.
The hole called SOA may be dead for now, but, the area is not. Look for a retry later this year when it can be put into the drill schedule.
Bob
SSN Price at posting:
11.5¢ Sentiment: Sell Disclosure: Held
