the next well "should" only cost jacka around 7 million (they don't have to pay for coopers share now. based on about a 50 million well again assuming no fluckups it would be next year at the very earliest. plenty of buns in the oven with jacka.
there is some big positives from this well though.. id say the initial flow rates would be enough to make this commercial IMO They got just bursts up to 1800 barrels with a tonne of well damage.
The reservoir(gross section) is bigger then they initially thought. they should get a solid idea of the structure estimates now as well.(permeability, porosity) Derisked the rest of the permit.. and reinforced the aboid formation as a viable play all through the permit area.
It may not happen overnight. but they have a rather large discovery.
JKA Price at posting:
7.3¢ Sentiment: LT Buy Disclosure: Held