RE:RE:RE:RE:RE:RE:RE:There is no lock down Only 6 cases leftOk, bashing the s****y Swedish weather is a safe call, I give you that. LOL
Rate the commercial success ?
Well, I bought TXP because of the obvious big potential of the Ortoire block and the fact they already had drilled historical wells on the 4 choosen targets that consequently made this campaign more of an apppraisal operation than a pure exploration play.
Those more or less successful long forgotten historical wells no doubt derisked this whole play before they had even started drilling Coho, and as we have seen so far it has worked out even better than hoped for with 2 out of 2 wells looking better than even the highest expectations and also highly important these days and a strike of pure luck containing gas instead of oil (Cascadura).
Even if Chinook and Royston would come up dry, just putting Coho and Cascadura on production will make this a highly successful campaign no doubt.
Now of course both Chinook and Royston also have historical wells drilled and that makes them look very attractive in risk/reward terms I believe.
My only worry for now is if the spudding of Chinook will be dealyed because of the imposed restrictions, the company should give us an update on this ASAP.
I also think the company will try to push the drilling of Royston further out, hoping for a clearer view of the future first given it`s higher cost and a larger and deeper than the rest.
But that is just speculation from my part at this point and I hope I`m proven wrong on that.