RE: Not impressed19 Jul 2021 22:36
Oh dear PG is rolling the dice and the devil is in the detail
Operational highlights
· MOU-1 TGB-2 target successfully penetrated at 1229 metres TVD MD.
· Gross section of 75 metres corresponds to pre-drill seismic "bright spot" with increased resistivity log response and formation gas show.
· TGB-2 now interpreted as western distal limit of the MOU-4 submarine fan ("MOU-4 Target")
· Potential for structural/stratigraphic trap of up to 60 km²
· Proposed forward plans to include rigless testing and preparations for an appraisal well
· MOU-1 establishes a basis for commercial joint venture discussions with gas-offtakers in the Moroccan industrial sector
The words in the above excerpt from todays RNS speak volumes - 'bright spot',' potential', 'proposed' and last but not least' basis' shout out there is too much uncertainty here.