Dr. J, all I am saying is, just because one oil company drills a dry holes, does not mean that every company that drills and exploration well is "dry" because they do not respond to rumors.
I doubt that TAIPAN drilled a 20" hole to start with and set 7" casing in a "dry" hole.
We have no news to make a definative and qualified outcome of this first well by Cespa.
Let us not forget, this is an Exploration Well first and foremost. In the absence of 3D imagery, the knowledge gained from this well may go a long way in helping them deliver better results going forward.
What was everybody expecting, a 66 million barrels find and ERHE is purchased the following week. One marginal well does not signify a billion dollars jump in share price or buy-in or buy-out.
Let wait for Phase 3 as that would indicate that the results, however poor, was good enough to continue going forward with more exploration Wells.
Just my opinion.
Sneak
