Nothing to ponder as it is All speculation by oilnews kenya.
Phase 3 will be the tell all for the first well.
Capitalizing the expense tells me they found hydrocarbons. They are evaluating the drilling results to see if it warrants an appraisal.
Egole-1 is a Four way rollover geological structure. These type of structures have produced more hydrocarbon finds than any other geological structures in the oil industry. Cespa will not walk away from this structure.
Just my opinion, I could be wrong, but I do not think so.
Following the mandatory relinquishment at the end of the Initial Exploration Period, Block 11A now encompasses 8,248.29 square kilometers (see link). An additional relinquishment is also due now that the First Additional Exploration period is coming to an end.
This second relinquishment may be under negotiation since any declared development area would be excluded from the calculations, but as we know, whether any portion of the Tarach basin could be declared a development area is still TBD.
In any event, the remaining area would still be larger than Taipan's "very large" block, so you can imagine why CEPSA would want to take as much time as possible to evaluate Tarach-1 results as they pertain to making a decision to move forward.
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