RE:Not sure ….what’s up ..Yeah I'll take a stab at an explanation. They said that more wells will need to be drilled in order to determine the commercialability of the field. So more money will need to be spent. By whom? They want to farm down the prospect.
I looked up what a "farm down" is. It's creating value and then selling it thus reducing your interest in it. So they must have created some value. But nobody knows how much value but it must be worth something because that investment firm that they hired to help them shop out their assets seem like they're pretty serious, professional folk who wouldn't waste their time on frivilous endevours. They'd want a good return on their time.
Regarding kcac1 post of the transcripts and Mr. Vegas explanation of the 210 feet of Santonian pay now only being 40 feet I couldn't make heads nor tails of his explanation. He said that it was basically because of "lost work". Lost work has a strict, precise definition in physics related to the second law of thermodynamics. It refers to the amount of disordered forms of energy created in any process that cannot be used directly to create order like doing work.
So does that mean that the samples were too disordered by being contaminated with other stuff like cavings from uphole, filter cake etc for them to be transformed into useful information. I find his use of the term "lost work" confusing. I've never heard the term being associated with earth sciences. But then I know little about earth sciences. But they do use thermodynamics principles in information sciences. Claude E Shannon is the pioneer of that. De Alba has done post grad work in information science. Maybe Vega's use of "lost work" refers to lost opportunity to acquire useful information. I'm just guessing though.