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HDR - Thon, page-2

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    pagarsi

    I've been wondering that myself. A successful drill in block C on a low risk target may be better than a duster for all concerned. It may also be testing a different play type/strucure or geology, thus proving up others of a similar type. The JV seem to have focused both last year and this year on defining what's there rather than purely looking for big hits.

    We are left to hypothesise because as usual we don't know their motivations and what they want to get out of it. Investors want oil and lots of it but the JV may get better value from understanding the geology and proving that oil occurs over a wide area.

    Regards

    H
 
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