No apology necessary because MRO says that it is shifting focus to Sugarloaf [and the boundary with Longhorn]. The '2 wells' he speaks of are the Sugarloaf wells referred to later in answer to another question (either that or there are lots of '2 wells' recently started in the condensate window).
"But importantly, we're moving down towards the -- what we would call the condensate window in our acreage, and we're very -- we've got 2 wells drilling right there as we speak. We spent most of our time -- to this point, the volatile window results continue to be very encouraging. The geology is holding up. This is going to be a great asset for us, and we're looking forward to the 200 wells that were going to get drilled this year in terms of a proving our concept, building rate and then also answering some of the questions about downspacing on a go-forward basis"
It is all very relevant to EKA. What a turnaround. From no drilling in H1 2012 (1st draft of drilling plan) to spudding 2 wells before the end of January with an all-out campaign in prospect, progressively accelerating throughout the year.
We could see a re-rating once the funding is secured and once EKA's brokers start telling the investment community the MRO story in EKA's context - we've looked at what MRO has said but how many others out there have?
EKA Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held