RE:Liza-3 Well Could Mean Big Gains Ahead For Hess Corp Shares a stong post triple. eco is adjacent to a massive oil find. if the author thinks this is a game changer for hess, what would such a find do for a penny stock like eco. eco is under valued as an area play alone. hurry up and wait...
Liza-3 wasn't meant to be a new find like Skipjack; it was just to fill in the reserve, Liza-1 and 2 had already proved the reserve. I have reasons to think this well might end up being quite a bit bigger than the current estimates. Doug Leggate at Merrill Lynch just put out a research note on HESS stating based on their research it wouldn't be a stretch that the field could end up being 50-100% larger.
The Liza field is so exciting and potentially lucrative due to it being mostly a crude field; liquid crude-rich fields have been hard to find in size in recent years. Only five fields containing over 500mm of BOE have been discovered in the last five years. When they find crude they need to make estimates about the size of the field, they do this a variety of different ways that shouldn't concern us in respect to this article, what's important is these tests take some time. The objective of Liza-3 is to prove the oil reserve is consistent throughout the entire field; proving this consistency will allow them to increase their size estimates. That's what I'm trying to get exposure to; I want to make a bet that the well is bigger than it was estimated to be after Liza-2. It took four months from SPUD to PR on Liza-2, and I think this is about near the top end of the time range that Liza-3 results might take. That would mean we should have results on Liza-3 by December of this year at an absolute maximum.