I asked my friend to review this NR. He is a very experienced oil geologist.

Here is his opinion:

1. The NR is very good done. The profissional level of information and details provided are telling the company does not hide anything.

2. One drilling day cost per drill is ~200K, so it is fine to spend $25M for one well. Especially at the situation of heavy geological conditions and deep well.

3. They still have an obligation to drill another hole but taking into account the spendings they will do it in th elast year. The place does have oil and they found it in the first well.

The conclusion is the Company does the right thing, they do know what and when they are doing.

My opinion is the SP will wait for the financial results and will go back around 1.7-1.8 if the report will be positive. It will dive deeper to 1.1-1.2 if the report will be bad and jump back later...