We all know the history of 76. I am glad they are taking their time on this one. They have the technical support of Schlumberger, management have learnt some harsh lessons and I fully expect them to get the most of this well, whether that ends up being commercial is another question. This well may indeed be a simple plug and perforate process (I don't personally know if that is the case) but I think it's totally understandable after the history that they are taking this one slowly.
The calculation is pretty simple. If this well ends up being commercial the share price will fly from here, if not, it will roll back to previous lows. Risk versus reward, you're in or you're out.
OEX Price at posting:
12.0¢ Sentiment: None Disclosure: Held