Analysis of the results from Logging While Drilling (LWD) data from the Bulleit Appraisal Well have indicated a gross hydrocarbon column of 235ft (78m) with a net to gross ratio of 50 to 60%. The plan is to drill to a deeper target. Pending the results of the deeper objective, the well will be tied back to a nearby Talos facility which has spare capacity. We maintain our Buy recommendation with an updated $0.11 price target (previous $0.13).
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