Not too many details yet (here is the PR), but is that important…
The short answer is no. It’s there. They will find the best place to get it out. Elk1 wasn’t drilled to depth. At Elk4, they also had problems (and there were multiple oil shows in that well also) at depth so there is not too much we actually know what’s there. Now we know.
What we don’t know yet is the best place to get it out, but this is a matter of time, we would say. Oil migrates, so since we now know it’s there, that best place will be found, in all likelihood. In fact, they might already have found one place to get it out once they’re done drilling and testing at Antelope1.
With over four million shares short, this could run for quite some time..