Buddy....
No one can say you are right...or wrong. Everyone has their thoughts on this. But what happens in blocks 2, 3, &/or 4 will depend on those with the money and expertise. We look at this from many vantage points. We wrestle with what we want to happen & what we think will happen.
In the end this is very high risk drilling and is extremely expensive. A CEO looking at this will have to feel very confident and will have to feel that there is a compelling reason to proceed. After hundreds of millions of dollars already spent resulting in 5 unsuccessful drillings...after nearly 3 years since the drillings and no further commitment...after reports that SNP may leave one or more blocks...I have to think that the odds of SNP moving forward have decreased substantially.
This is just my opinion but we all have to ask ourselves how much more would we throw at this if we didn't have compelling data to support our actions. There certainly could be oil in our blocks...but it needs to be huge amounts to warrant the expenses involved. And no oil company can just keep drilling with no limits on expenses. Compelling evidence is needed...I don't think they have it.
Badog
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