RE: Punt22 Feb 2021 10:49
One thing is certain, Potter has to explain to shareholders the reasons why the drill was stopped early knowing full well that the oil was at a much lower depth, some may say BPC ran out of money in which case what was the point of the drill after 10 years waiting and $100M spent only to pull out at the last second, it's just not logical.
Therefore in my view the only other conclusion is that they had accumulated enough data during the drill to confirm there is a working petroleum system (it was an exploratory well anyway) and then farm it out to the major that is currently in talks with BPC.
As for the cerp's assets, they were obviously bought as a back up plan and in hindsight a very shrewd move by Potter, what is needed now is more news and regulary.