RE: a balanced releaseMy Take:
It is not good news. However, still some potential upside.
-- Visure-1x is the smallest of the 3 prospects in Bugainvilles.
~ The apparently lackluster Lower Guadelupe may yet be stimulated/fracced, but I wouldnt hold my breath for significant production increases. Then again I'm no geologist.
~ The lower Guadelupe had a P50 of 2.99MM bbls. The Upper Guadelupe has 1.32MM bbls and the Barzalosa is not stated. The upper and lower Guadelupe had almost the same Net pay intervals (45ft), so there is still a reasonable chance of pulling something out of the Upper Guadelupe. The Barzaosa is pretty small, so not much upside likely there.
- Tuqueque 1x is at 9,000 ft, drilling to 11,300ft. It has 10MM bbls P50.
~ They have hit 2 unanticipated formations in the upper regions of the well. No results yet, 40ft ttl Net Pay.
~ Bigger 8"+ hole for possible dual completions.
Bought some more loon on the sell off, still some potential there. As for PDQ, this well is not nearly the more significant of the ongoing drilling/testing. El Verdal, Noelia, Tuqueque are all much more significant. If those are all dusters, Ill need a solid week on the town to cheer me up
hockeylad