RE: TE-1117 Dec 2018 11:31
I suspect the Te-11 location won't be chosen until they have all the information they can get back from the Te-10 drill. With drilling on Te-11 suspected to commence around early April time, they have plenty of time to choose a suitable location. I don't think many people are pinning their hopes on Te-10 finding commercial gas, but they may surprise us all including themselves and find something. That's why my interest still rests on Te-11 and hopefully what will be a successful drill. We all realise that just one successful drill will be a company maker and should IMO have a very positive effect on the share price and eventual sale price. The thought of 9,10 and 11 failing fills my boots with horror because we could find ourselves in a rather sticky situation, which could result in JJ securing additional funding to pay for additional drills and / or with the help of a potential farm-in partner, going after Sidi to see if we can prove-up anything over there. I said a short while back that I suspect JP to sell the assets / company after 9,10 and 11 have concluded regardless of whether or not they are a success or failure, but right now I'm not too sure. JP will want to try and extract maximum value from our assets before moving towards a sale, so our LE could indeed be put on ice for a while longer whilst the drill bit is sent off to find more gas / condensate in 2019. Interesting times....