Sherritt Block 10

Sherritt just released their Q3 report and it looks like Block 10 is a dud.
They found water leaching into their oil reservoir and no way to fix it.

• Sherritt completed the analysis on a second set of samples from Block 10 that confirmed that the water produced during the test period is from the loss circulation zone, which is located at a depth of approximately 5,300 meters and above the target oil reservoir. The analysis also confirmed that no viable technical solution to prevent the further flow of water into the existing well is possible. While Sherritt still believes that the Block 10 reservoir contains oil, the existing well cannot be used for future production purposes. Sherritt is currently reviewing its options with respect to Block 10, including seeking an earn-in partner. At this time, Sherritt is not contemplating any further investments in Block 10 without first securing an earn-in partner.

https://www.sherritt.com/English/In...ts-Financial-Results-for-Q3-2020/default.aspx