RE: still treated like ****4 Feb 2026 09:04
Farm out is unlikely until the permeability and connectivity can be proven and they can get more than 1-2 bbls a day out.
Dubhe might clean up naturally a bit more than it was before being closed and having spent millions on it so far, they won't just P&A it without further stimulation, acid squeeze or some other re-completion technique. At the moment it is on life support and at that stage that you often see in the films where the injured person is in a critical state "and the next 24 hours will decide their fate". Think everyone knows the fundraise was done as the risk was/is that the Sp could drop further. Personally thought they might wait until the news that the well was about to be re-opened and the anticipation would have increased the sp but that too is a gamble so on balance, better to raise at the price it was at the time as opposed to guessing the future. Says to me though that they are not confident, the rns and interviews said it all to me hence bailing out in November. Still looking in, not expecting much until April and the final outcome for Dubhe may well be into the Summer.