Even for Genel, this would appear a reasonable drill budget commitment, one they probably wouldn't be making if the well's prospects were not significant. That of course goes double for San Leon itself, with a $3mm net paying interest. I reckon that that level of commitment tells us more about the partners' positive thinking than this board is perhaps prepared to recognise. By echovalley
Genel Energy ("Genel") notes today's announcements by its partners San Leon Energy and Serica Energy regarding the Sidi Moussa-1 well offshore Morocco, operated by Genel with a 60% working interest. Genel confirms the information contained in the operational updates issued by its partners. It is premature at this stage of operations and ahead of the forthcoming testing of the well to make any definitive technical interpretation. Genel shall update the market on completion of operations. -ends-
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