IMHO:Decision for further drilling depends on what is found at...

IMHO:

Decision for further drilling depends on what is found at Kora. Not only is FAR in need of a hit BUT, more importantly, CSEM technology, which is Rocksource's raison d'etre, is on trial.

Rocksource was very enthusiastic about this drill - "strong anomaly", >50% CoS, etc, and they are drilling according to RCT. RCT has also had recent success in Barents Sea with new gas discovery and so are riding on a high. Their recent failure in Cauvery basin (India) was not due to RCT because Indian JV decided NOT to drill NAR anomaly. Here, RCT are trying to gain access so that they can undertake to drill targetting anomaly.

The NAR resistivity is suggestive of some low conductive (or conversely, resisitive) material. Under the ocean and embedded in rocks, it is hard to imagine what could be resistive, other than some organic (non-conductive) material, such as, hydrocarbons.

So, if this was completely dry (no hydrocarbons), FAR will lick its wounds and ponder GB + Senegal. RCT would have serious questions asked of its CSEM technology - which thus far has generated great excitement amongst explorers.

If Kora contains HCs (+/- oil), JV has some serious thinking and it could be that HC migration has denied the JV instant gratification. In this scenario, I would expect a follow-up drill, given that Sabar and Cygna prospects are estimated 200 mmboe with 50% CoS.

Should Kora fulfill RCT's CSEM expectation's (and all of our hopes)....well what can I say...."Bring it on"!!!!

Not long to go now...the time is nigh.

Good luck

MS