Preliminary review of the interval by the operator suggests that the zone in which the shows were encountered is at the lower end of the range required for commerciality; however, further petrophysical analysis is necessary. I accept further analysis is required but the statement reads “the lower end of the range required for commerciality”. Is that not what we were aiming for? Commercially viable albeit at the lower end of the range ?
I don’t think the Operator or RMP expected the negative reaction to this announcement. They have actually announced hydrocarbons at the lower end of the range of commerciality.. Surely if it was a straight out failure they would not continue with further testing and of course there is still the deeper target to hit.
Not trying to find something that doesn’t exist but by the same logic the ANN states lower end of commerciality.... Perhaps my English is poor but where does it state it’s a duster?
Oaky it doesnt say its gushing oil but surely at this stage stage this seems an overreaction on the LSE ?
Good Luck All
RMP Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
