Private equity company. Been buying lots of companies and acreage recently. In Algeria and Egypt. Just the sort of purchase they have been doing recently. Supply 5% of the UK gas from Cygnus.
The possible identity of the company is Neptune Energy. Invested globally and in North Africa. Has a track record for development especially gas plays.
The testing does not require a high spec rig which will be more expensive and better deployed drilling. The test equipment is expensive to mob and demob. So the most cost effective and efficient method is to only have one mob and demob and do them one after the other.
Other than the timing nothing much has changed, post PW lies. So if it was good enough at 50p / 70p it is a bargain now. I am preparing more funds to top up and it is my biggest holding by far.