Should be a decent little SP increase in this one as initial results are fed out. They will be targeting a series of roughly 500m wells. Most of the targets are through 250m or so of unconsolidated sedimentary, with simple sedimentary units beneath, so drilling will be very easy and quite predictable (unlike GDY, who are dealing with an entirely different target). A rough guess would be 15 to 20 days for each well to be completed, with a minimum of 9 wells, and then 3D-TFM released some time after (will only take a week or two to complete).
I think buying into any option weakness may be a good idea, I'm going to give it a try over the next couple of weeks just in case there is anyone selling down.
TEY Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Not Held
