Guys..no worries! They have oil and lots of it.

Not going into the basement is a smart move. The extreme high pressure which will be encountered would have blown out the well they have drilled, which will be commercial. When someone will decide to penetrate the basement it will be done with one well collared all the way down and designed to deal with the high pressure which will be encountered.

With the 2D sesmic they can see fairly well the thickness of the sands they are targeting, because of the results of drilling Sabeel-1 they know basically what they are going to encounter at each level. The objective was always to achieve up to 300 million barrels in this area and it looks like that will be achieved. Only 60kms to build a pipeline to the coast, that is incredibly cheap for Puntland to start getting oil to market ASAP.

Everything looks positive and the market sometimes is so clued out, or so incredibly manipulated, it boggles my mind.

Skier