Post by
EagleHasLanded on May 16, 2023 2:03pm
Malcy
Https://www.malcysblog.com/2023/05/oil-price-arrow-zephyr-petrotal-afentra-tower-prospex-and-finally/ This was another exceptional well result from Arrow where even I continue to be astounded by the success of the company in the Tapir Block in Colombia. With three high quality sands producing 148€² of net pay this well must surely have significantly beaten pre-drill estimates and will add to P2 reserves and of course when it comes on production cruise past existing rates. But this is already in the statement and we have become used to wells that are quick and cheap to drill and payout in next to no time adding to production and reserves. I have no doubt whatsoever that this is an outstanding company building a portfolio of some significant value in an area that has still to be discovered. I am not going to change my target price as a result of this well but I surely will do after CN-2 or the end of the campaign and I notice that other analysts are slowly catching up with my number I activated last year. The 50p target price would still involve the shares more than doubling but the shares are so cheap that upping the TP is only a matter of time.