My interpretation ...
My interpretation/guess is that they probably found something at
Shewashan-1 but they're not sure if it will or can be a commercial well.
Of course I'm only speculating (gut feeling).
We've always known that more share dilution is in the cards. However,
I trace/sense a more cautious approach from the RGO management.
If Shewashan-1 is declared "non commercial" I'd say THE BIG QUESTION is:
Do they have enough time to drill somewhere else at Khalakan within a year
or will they need another PSC extension 2015 ? (is that possible?)
Anyway, right now we're waiting for the results from the TESTING.
If we haven't heard ANYTHING by mid July I'll be worried.
GLTA / Bubo