JP MORGAN - CARAPA RESULTS MOST IMPORTANT OF THE YEAR...Source: https://www.petroleum-economist.com/articles/politics-economics/south-central-america/2019/tullow-s-last-chance-saloon
The final Guyanese drilling target of the year is now more crucial than ever for the company’s exploration campaign and the near-term recovery of the share price. The Carapa well currently being drilled is the first in the Kanuku block, split between operator Repsol of Spain (37.5pc) and partners Total (25pc) and Tullow (37.5pc), and the first to test the Cretaceous play—both Jethro and Joe were found in the Tertiary. Tullow says around 50pc of prospective resources across both the Kanuku and Orinduik blocks are located within the Cretaceous, indicating that the well is likely the most important of the year.
A report from US investment bank JP Morgan highlighted that the oil quality is unlikely to be an issue given the light oil discovered in the Cretaceous at Liza. The rig at Carapa began operations one month behind schedule, but the partners aim to conclude operations before the start of next year.'