I don't think it was the technical jargon that is the problem - that people were hoping for oil in three formations and got one.
On technical aspects it was fantastic - very high porosity implies a very good production profile - and the fact these formations were deeper doesn't alter the fact there is oil higher but puts an upper limit on reservoir size. I suggest you google hydrocarbon traps or similar for a detailed explanation because it will take me hours to fully explain how hydrocarbons accumulate and get trapped, formation porosity/permeability and the characteristics of buried ancient reef structures like they are targetting.
This has been a huge over-reaction to what was not bad news - more like "warm news" whilst the market was hoping for "hot news".
IMO not a bad price from here and long-term you will likely do very well.
TDO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
