mobilisation cost of the E109 is listed at 180K per day - it is a truly serious rig capable of 30000ft drill depth.
ENI have unique reservoir modelling capabilities - they would have used those fully before stepping in, and they will use those post drill to truly assess potential. They are a major - and proving up many multi TcF targets across many geo's.
It will take time before their geology team really process what is verifiable from cores and other logs at HS1, reckon its all done on site ??
the production testing phase is of course key - the intervals are big so lets hope they are productive
My Thanks to IAM, DrDaz, Oilman, Antman4 and Shadowboxer (who pointed me to a key paper) and others who have provided valuable context, assessment based on known detail and have been prepared to provide a forward view to all who are into or looking at MEO. They have done so regardless of what any particular individuals position or circumstance is and therefore open themselves to all types of feedback.
I called a deep GWC nothing more - I have many 100ks of reasons that this and other prospects that MEO have in the portfolio validate a long play
Best of luck to all holders
MEO Price at posting:
21.5¢ Sentiment: LT Buy Disclosure: Held
