I believe that one of the reasons Repsol chose this first location is that they are not only targeting the BRF but also the lower LTA formation and the basement. Upon reprocessing the seismic Repsol thought these had potential (which could be potentially larger than the BRF) and GCA was not asked to evaluate them esrlier by POE. The other reason may have been that this location was cheaper to access but not sure on how much of a factor that was.

They did not say exactly that if the BRF is dry then that they will not drill the higher formations in a new well. What they said is that they will not drill them is there are no hydrocarbon shows at all in the Gumai and IAPF. So if there are shows then they may chose to drill them even if the BRF and LTAF are dry. It all depends..

yes, I was concerned about the distance from the source kitchen but it seems to have charged a commercial location 25 KM to the SE. The oil/gas had to migrate somewhere and it is not found directly over tne souce kitchen, right? Also, couldn't those back fault lines have occured after oil migrated thus trapping it in place with the seal above it?

Anyways, agree it is a high risk wildcat but you may be wrong that you can buy back in under $2. Agree your strategy makes sense if you can buy back under $2. I just think given tightly held shares and low float that any indications of success and this will move much higher very quickly.