EMP 0.00% 1.1¢ emperor energy limited

1000bpd, page-10

  1. 842 Posts.
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    A good result to derisk the area

    Neil says
    The Gumhole dolomite has evident potential commercial productivity and if we can find better sited well locations up-dip from Backreef-1 with that Gumhole full of oil, it'll be a serious company-maker.

    Successful recovery of oil from a future Backreef-1 well test will de-risk the charge and reservoir risk in the Backreef Lead, and reduce these risks in the other identified Leads. It would not de-risk the structural risk, as this would require additional seismic or well penetrations.

    As previously stated (pre-Test) on 7 May 2012 interpretation could be that Backreef-1 drilled the reservoirs just below the field oil/water contact, possibly within the transition zone between the oil column and the underlying water.

    They now have to find the sweet spot is how I interpret the result - talk of this drill being a gusher was always fanciful. We are on our way methinks.

    The shareprice will do what the shareprice will do - in the longterm we know where it is most likely to be.

    cheers all
 
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