RE:Comes down to management Ignore bullishdude WCP. He said "extremely dangerous to throw those nymbers around without knowing porosity which CGX conveniently never shared for both wells....." That's a lie. On slide 8 of the slide presentation accompanying the CGX webinar May 2022 they detail the effective porosity of all hydrocarbon bearing targets that they encountered. Maybe he or she should google what effective porosity means. What they reported looks fantastic to me. But I'm just a googler when it comes to earth science so maybe the experts can weigh in. Pun intended.
But I gotta disagree with you that wildcats can't be turned into development wells without appraisel wells first being drilled. I worked offshore for Chevron Overseas Petrolrum Corp as a consultant on their Plataforma Deltana project offshore Venezuela. We drilled 5 wildcats. They were planning to turn all 5 into development wells and drill 15 others to develop about 50 trillion cubic feet of gas and I forget how many trillion cubic feet of condensate. They even brought in their facilities people into Puerto La Cruz, Venezuela to build the pipelines, LNG plants etc. Then Chavez nationalized everything with his "empresas mixtas" scam. So it didn't go ahead.
Anyway Wei is a huge question mark for me. I'm a drilling guy who knows little about earth science. Why the sp is dropping is beyond me. The market doesn't like something. Maybe it was expecting more at this point.