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there's no incentive to drill Tau#2 with cash

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spec machine   Monday, 08/03/20 12:02:50 PM
Re: Ebenezer3 post# 3886
Post # of 4039 
Quote:

there's no incentive to drill Tau#2 with cash in there pocket. Especially for delek since they already been divesting left and right raising cash.


A prospective 400Mbbl is a strong incentive and Delek raising cash has no negative implied sentiment toward their actions planned (or not) with GulfSlope since they got their redrill settlement for their portion of the Tau1 cost anyway. Their size makes the GOM activities an insignificant rounding error but I don’t see them bailing on their GOM exploration plans

Quote:
And why would they after the disaster of Tau#1 going way over budget.


Same incentive but risk is reduced through the data gained on Tau1

Quote:
Ceo can't seem to convince anyone to invest even in a know discovery the Corvette.


Corvette hasn’t been drilled, if you’re thinking the Anadarko well, it’s possibly an additional development location if Corvette becomes a discovery.

As of right now, except for $1k inside, there’s a huge spread and no action. Somewhat positive I would say, considering the latest news

spec


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