1. Hession says we will get well results in September.
Hession would not be able to commit to well results in September if drilling was still in process. Anything can happen while still drilling. The implication of his being able to make the commitment is that drilling is finished and evaluation is taking place. As JFT has stated, the evaluation of well logs may be happening now.
2. Hession has said that well results will be announced when wells are completed.
If drilling is finished, the wells being completed is likely, as JFT stated, being defined as completing the evaluation of the well logs and receiving the report.
3. Hession says Bobcat and Raptor have shown presence of thermogenic hydrocarbons.
This would be known from hydrocarbon shows while drilling through the reservoir rock. At Wahoo the shows were in a porous interval in the shale. But if they were still in the shale at Bobcat and Raptor, Hession would not be able to make the commitment for results in September.
4. Exuberance and optimism were expressed at the Bernstein CC.
Conclusions from the above: We may conclude that the likely current status of Bobcat and Raptor is that drilling through the reservoir rock is finished, that logs (or other evaluation and testing) is taking place and Hession is confident he will be able to meet his commitment to furnish results this month. Since he is conservative, that could be anytime. From the exuberance and optimism at the Bernstein CC, coupled with hydrocarbon shows, we may conclude that IOC believes, pending the log reports, that we will have a discovery in one or both wells.
