RE: Banger!29 Jan 2021 10:55
NicetoMichu - Good post. Imo, if the primary fan (Cane Creek) was oil bearing then I'd stayed in and I think the market would like it. However, it appears initially that the primary fan was targeting oil and found gas. If you're targeting gas and find oil then you have yourself a nice surprise. ZPHR was targeting oil in a oil basin.
I'm in PRD and when they drill Morocco they are targeting gas. there's an existing gas pipeline next to the well site. ZPHR having more gas than oil is a poor result, although many can't see that and that is of course their perspective. I'm the local bully on the ZPHR thread so I'm informed. Well, I'm not sensitive and have played oil stocks since the Falklands and learnt loads. When your main fan is targeting oil and you hit condensate then it's bad news. Indeed, oil may be in the secondary fans and it may be commercial. At this point in time the risk has changed for the worse (for me) and so I sold out. I don't recall not respecting other people's opinions, but them I'm not looking for romance... when speculating in oil minnows you just need to be careful.
As I said, good luck... to you all.