Sorry to bring up an old topic, but thought it best to keep it on the same thread.
Just re-read the above posts, and then did a little more reading. So.. Paradise drilled the 2nd time round has found live oil, with, a possible up-dip of 60 meters. Now, as I am still learning step by agonizing step about petroleum exploration, a 60 meter find would, be ah, quite huge.
(Larger than Ungani 1?)
Hoping those with a real understanding of what Paradise could contain might elaborate?
Also, as BRU does have its own rig, which from Eric's own email is capable of doing Paradise, would it not be able to done quite soon (if permits are indeed acquired?) due it having full control of its operations.
I am assuming that there would be a greater chance of success in drilling Paradise again due to the live oil shows? as compared to, for example Ungani North 1?
Some of the info I sourced from-
http://www.rigzone.com/news/article.asp?a_id=118877
and
http://hotcopper.com.au/announcements.asp?id=443045
I guess I am just trying to work out actual potential, and whether it could/should be, put on the short list so speak of drill options.
To keep this post topical, I am guessing the sell down over the last couple of days might be attributed to those expecting a Ungani North 1 result being supplied earlier than next week + general market conditions.
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