Any well drilled into the same prolific intervals that exist just a few Kms away, are thicker, indicate quality reservoirs , have direct hydrocarbon indicators , have been assessed through comparing 3D data by very experienced Geos , has a massive pre drill estimate and drew PETRONAS into what has been a very good farm out deal for FAR, tells you that its the ultimate risk/reward exploration well...or as some like to put it, a large step out appraisal well to SNE..
However like all wells , appraisal or exploration , it comes with no guarantee so your either in or out on this one, and if your in there is still SNE, which is worth considerably more in the long run than the $682 Mil MC currently placed on it , and is all we talked about pre GAMBIA.
19 months ago we weren't even aware of SAMO, let alone BAMBO and SOLOO so it's just an unexpected bonus oportunity for many of us and a high COS one as well...next comes GB.
I treat it as a minimum risk/ maximum reward situation, with a 100% expectation of finding hydrocarbons and 50% chance of finding commercial Oil...
Cheers Whisky
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