vil - between the lines

Is the following correct??
Please only Geo and others with knowledge, experience or balanced reason need reply.


The well has encountered three separate formations starting at 7,000 ft through until total depth.
Each formation has numerous zones of interest.
The lowest formation is 300 feet. Within this 300 feet they have located 6 zones which have been found as potential payzones - the total of these zones picked for testing covers 120 feet.
It is expected on preliminary results that these zones will contain oil which can be identified by the use of the terms porous, permeable and fluorescence and Petrology.

They are extremely confident this well will provide greater upside than all previously communicated forecasts.

EPS forecasts related to one well also which means EPS forecast if revised with hindsight would be well above 40 odd cents.
There are two zones remaining. These could also be
commercial in their own right with multiple zones.
The large gas shows encountered and the wording in the associated annuals indicate gas shows.

VIL/GGP(pass) will get the first well up and running based on announcement.

They could then drill another well to target gas (oil perhapsish) in 2nd zone. They could then do the same with the first zone however oil chance reduced again and possible gas however not as significant as level 2 and level 3.

they could then make multiple wells going to each of these levels across their acerage.
They have acquired immediately adjacent land immediately.
They are in process of arranging pipeline completion and associated land acquisition.


This is very very big for the patient.