All wildcats are by there nature high risk, I look back at all the ones that I have drilled.
But and its a big but the possibility of finding big oil and gas makes drilling wildcating the best fun.
Valentine is really a follow up to previous work, and the well results so far have been very encouraging. I have been speaking with EGO, Emerald, ARQ senior management over the last 3 days at the GOC and DOIR Pet open day and the news flow looks good (see my earlier post).
So Valentine will be a technical success (proved gas and maybe oil present), a commercial success we should know in less than a fortnight.
My odds in favour of a commercial success is now 1 in 3 from an inintal 1 in 8.
ARQ Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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