RE: Seller13 Dec 2023 18:44
I think one last red flag to look out for is when we receive the RNS for the spud date.
If there is no excitement generated on that day then we really will be stuck in rut without much chance of a decent derisk for some. All hopes will be on a successful drill only.
Without sounding pessimistic for the medium term you just need to look back at our last oil drills.
SP for Rabat motored up to 23p just before the drill then a 13p raise was dropped on us. (Imo we still have a hangover of mistrust to this day).
SP never recovered for the 2nd drill of prospect S later that year before we had the 2nd duster.
Some peeps consider our drill next year as a high cos but obviously the market doesn’t see it that way, atm at least.