As has been explained by others the "tight hole" status of a well appears to be a tactic to prevent others accumulating some sort of commercial advantage and suspect that this specifically applies to the fact that Morocco is virgin territory and ok suppose for a moment if they happen to find hydrocarbons where they least suspect it. I remember Karoon gas found oil in Brazil not where they were suspecting for an example. It was in the Cretaceous and not the Jurassic or something as such so this may mean to them a commercial advantage to do other deals with other players in the region or locale...where they have information that another may not ...dirty deal gets done dirt cheap!
Of course this is all just an example and not far back Pan-continental Oil n gas were involved in a well with BG offshore Kenya called Sunrise. It was a tight well and all of a sudden there was a leak which emanated from the Kenyan Government suggesting that Hydrocarbons were found at Sunbird however it was not commercial. Somewhat of a truth however after that all went very very quiet for ages and this was a couple of months at least after the well was plugged and abandoned. This term is a constant danger for all shareholders as sure as eggs the bloody price goes south after companies make that statement . All exploration wells are as so many know "Plugged and Abandoned" for one the drilling is over and 2 an exploration well will likely never be a production well. Also for environmental reasons the thing has to be completely sealed.
Have no idea who sold shares the other day though if only a little more explanation was put into place for one thing explaining the statement...not difficult though appears to be against professional ethic or something. By the way as has been explained by others the company will have to report evidence of hydrocarbons however I am not fully up to speed if they have to let the market know immediately regards anything significant like a 40 m zone of good sands full of oil etc.
Feel confident despite all this crap which makes things look like a total dog, then Dave Wall has 200G in it so that is a very rare thing for a person in such a position and have to respect the man on that basis.
TPT Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
