RE: RE: RE: Noob Question Yes, they have 65%. Tetuan was already a discovery at Verdal. The natural flow rates were not economical, and part of the plan for Dorado-1 is to get some core samples of the Teutan formation. It is a fractured carbonate formation, which can be very difficult to interpret/predict. IF they can get economic rates from Dorado-1 in the Tetuan formation (with stimulation/fraccing), it carries approx 100MM boe in gas and condensate, a huge hit. That said, the Caballos is still the main target, with 20MM bbls net P50. PDQ has partial carries on the first and 2nd wells.
At the risk of sounding like a broken record, the real potential value is in CPO-5. I think the permits alone have the potential to double the stock. Drilling success could push it upwards of 0.5-0.6/sh or more depending on the details and the markets.