Armstrong/Repsol & C.P. have flowed the well at commercial rate at Nanushak formation. Armstrong/Repsol flowed verticial well at 2100 BOPD (AVG) and 4600 horizontal well & Willow well flowed by CP at 3200 BOPD.
If they find the oil, i believe, chances of oil to flow at commercial rate is v high. This part of Alaska have light sweet oil, easy to flow and easy/cheap to extract.
About ground value of oil, I think let the market to value the discovery!!! 88E have valued over $300m on unconventional discovery (without flow rate) and then CVN currently trading at above $400m for just 30 mbbls oil with v high drilling & extraction cost.
RMP Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
