All good stuff. Derisking is the name of the game…
Some of the main conclusions
- we believe today’s positive well results materially reduce the asymmetrical downside risk of a dry-hole in Antelope-2.
- Results are preliminary (only a test of a 170ft section in the top of the reservoir) yet compare favorably to IOC’s 3 prior successful wells and our expectations (see our IOC note from Oct 6th).
Nice work, as usual, to see analyst reports so quickly. Great to see the target price going up!