No news is definately good news as it means we are getting deeper, the deeper they get the better this will play out-
The target zone is 4850M to 6100M
We entered the resevoir late dec, at 40M per day give or take as long as the drill has not encountered any delays we should have tacked on 800 additional meters which puts us at 5600M as of today, which would be lower than Occidental was able to go,
13 days left or so to get to 6100M-then we test, puts the update on flowrates into Mid-Feb, fingers are crossed that we don't get touch down news for another 13 days, I believe many buyers/funds will step up to the plate once the TD news is relayed especially if we get right to the bottom.
As for our Boiler room bandit, the answer is very simple as to why PMI JV with Shell, they stated all along they were well funded but intended to JV, If PMI went this alone, just drilling Jubani & Spiragu2 would put them at great risk with Zero cash left in the event of a miss on both or drilling issues. The JV gives them enormous wiggle room if this does not play out & they need to drill again, not to mention Shell is proceeding with the 20Million upfront costs on 3D seismic for the next targets.