Malcy12 Nov 2018 14:36
"Equinor as Operator has announced that the Verbier appraisal well will now be drilled in 1Q 2019, the West Phoenix rig is currently drilling the first of a four well programme. Initial estimates of gross recoverable resources at Verbier are between 25-130 MMboe with a mean of 69 MMboe. The confirmation of early next year for this well should have no impact at all on valuation or targets for JOG shareholders, my view remains that with appraisal aiming to determine the potential volume range in the discovery substantial upside is still extremely likely. My confidence is franked by the extensive seismic campaign that may well upgrade the block next year, 2019 may be quite a year for JOG."