RE:FEC UP 8%Yeah for a reason. Investors know that their total assets just went way up. Kevin Lacy will not take 80 or so days to drill only 2600 meters or so of vertical hole. They were doing some time consuming evaluation operations like coring, wireline logging, MDT, even maybe woo child waiting on orders while the earth science team decided to aim the bit next.
The well is a wildcat. I've been on a couple like Hibernia. It's a discovery well. They'll "follow the evidence" to lead them to what to do next. So they followed the evidence and found something after much time and cost.
Why oyl isn't reflecting the increase in value like fec is I'll leave to shedrills and other experts.