RE:RE:practicalguy, what do you think?
practicalguy, thanks for your opinion. Very helpful. You are probably right; they need 3D. hadn't thought of that. Seems like their understanding of the geology was way off.
So, if nothing were to happen over the next 12 months while they shoot the 3D and prepare for another campaign then it could create conditions for an even better buying opportunity whilst things are quiet.
Next time, we will already know that the oil successfully migrated and they will have much better understanding of the geology. Your comment about lease extension made me realize that part of the reason they might be drilling this sidetrack is to forfill their drilling obligations. hadn't considered that.. Still it will provide valuable data and maybe they get lucky......