I would think that the private companies would have a hard time valuing their own assets based on these first drilling results. That might sound ridiculous but it isn't. Valuing a complex field with the amount of drilling that has been done to date is not that simple.
The best indication of total value put on the JDZ will be the value the market places on the public companies once the drilling results are announced. If I were a private company it would be my strategy to wait for that valuation to happen. Of course a private company might get their price and just take that amount too. Whatever is going to happen, I wish it would hurry up and happen.
If the extension of the time-frame for committing to phase 2 is true, it does not give me any confidence that drilling results will be forthcoming any time soon.
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