RE: Optimist or Pessimists31 Jan 2024 10:41
Agree Craig, her demeanour and the initial details all lean to a discovery, the question still remains, is it's reservoirs of commercial scale, small , medium , large , extra large or HUMONGOUSLY AWESOME. Which is rarely identified early.
Wytch Farm in Dorset, the largest oil producer in Europe for Decades, was sold by BG to BP as a 20mbo discovery, a few years ago , after draining hundreds of millions of barrels, with a peak FFD production of 100,000 bop DAY, it's new update by its now French owners, was reserves of over 200mbo (10 times original sale 45 years ago)
In most cases Discoveries grow on development/further drilling, big boys will want to take advantage, just like BP , if they can, hence after having a look themselves at data, offers usually multiples of share price BUT still getting it cheap as chips.
Who remembers cove, held part of a large gas field offshore Tanzania/Mozambique, no development conducted yet, bobbing along 22p -25p range, suddenly SHELL came in with a bid for 78p ps value, bidding war commenced, won by the Thailand NOC for much higher at a price of £1.25 BILLION.
Gas He and H , both have big futures, fingers crossed blondie explodes with delight on rns, this could be a Monster.
For balance, it could also be a smaller but still transformational to the company dual fuel discovery. GLALTH