Looks like they'll be knocking on the door of the primary target by this time next week. Seems there are at least two sands known from Y-1 (drilled in 1967) within sealing shale beds and shale top seal. Likely to be wet gas (gas/condensate). Structure is v big (possibly ~Tcf) and porosity quite good but permeability might have a question mark. Further development could need horizontal/coil tubing and maybe frac treatment(?) but would be a long-life field of huge value if good production rate is possible. Of course, the liquids would be the cream on the cake.
ARQ Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held