"Commercial" "Shows" and Insane PR StatementsFirst and foremost....they should have NEVER used the word "Commercial" in a PR after only drilling 1.5 wells in a lease this size. It takes way more than 2 wells to confirm the volumes that determine commericallity in these fields. Just ask Exxon and Total. Not a single field in the basin was FID (crossed the commercial threshold w/ so few wells)
Secondly...they gave the market conflicted statements in their last PR when they said "Shows". The word "show" is associated w/ non-commerical volumes in the OIl & Gas world. HOWEVER the following statement "Results from the Well are consistent with pre-drill expectations. The Well has confirmed the Company’s geologic and geophysical assessment of the block." indicate they have found one or more LARGE hydrocarbon accumulations. Because you don't drill $100-200MM wells w/ the hopes of shows, you drill to find LARGE hydrocarbon accumulations.
Irregardless of which way the wireline results lean...they need to have someone else writing their PRs....because the current author has placed the companies in the cross hairs of a legal battle from shareholders if they don't deliver.
Personally, I'm so glad this journey is about to end. It's very hard to deal w/ the unprofessional behavior regarding shareholder communications and maintain one's sanity.