Sigh...Rough day today, but I'm still holding out hope for the upper zones.
There's also a HUGE gap to fill because of the whole "Norway-gets-everything-first" deal, so if we get good news I think we may be able to jump fast.
I know that they said 20 mmcf/d was the target for the well, but I think even 5 mmcf/d total would be enough to justify further exploration with different drilling/completions techniques. Considering that the upper zones still represent 55% of the reservoir, there's also still a chance the well could produce at 10-20 mmcf/d just from those two zones.
I understand that this is exploration and is risky...I can live with that. I'm just frustrated with Canadians getting the shaft, houses like Canaccord obviously having inside information and these news releases that keep referring to the perf guns, which IMO is a completely irrelevant thing to put in the NR.
If my company were drilling this field (I work for a major so cash isn't really an issue) then I would be really excited about how to develop the field optimally. The gas and condensate are there, but TSU really needs a cash-rich partner so that they can drill and test more than one well. When we run pilot programs, we drill a number of wells because a few of them usually don't work. The Leduc field in Alberta - one of the biggest - even had a few "dry" holes in its early days, and look where it is now...