88E mgmt. is actually distinctly referring to Merlin 1 as the exploratory well and Merlin 2 as an appraisal well.
Appraisal suggests slightly larger diameter and flow testing to determine the size and extent of the oil field discovered by the previous exploratory well (Merlin 1). It may also suggest that 88E has further seismic that they are relying on.
Doyon, i believe, drills wells all the time for COP, so that should give us some confidence as investors that Merlin 2 will be done in a highly professional manner.
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