RE:They Probably Spend A Lot Of Time I'd say they are worth a lot in terms of confidence, actual value is an unknown. They are definitely not super valuable untested.
drilling two wildcats and going 2/2 is great. It, also builds confidence that depth not lack of oil in the Guyana block is the important part.
Then comes the Tullow aspect..... sheesh is their CEO useless. Dude dragged his feet on Kenya, messed up a merger, hedged up oil at the lowest/worst possible time, drilled in Guyana way to far south and is an absolute joke. Any other partner would/will be better.
In Guyana even if they play it ultra safe and drill close to Hammerhead which is proven, this stock would trade around $1 a share.
unfortunately, for that to happen Tullow needs to get out of the way