action stations, page-7

$280 Million for the two wells in deep water, you would be hoping to find at a minimum about 280MBoe recoverable or about 600MBoe in place, throwing up round numbers (10% chance of success, $10 a barrel just discovered) to cover the cost of the drill..

This is a solid dice throw from two of the leading players Anadarko ($40B) and Total ($120B) in the oil industry. The size of L11b and its location compared to the L10s does make me smile, a nervous hopeful smile :-}

On much smaller note, even smaller than PCL, Simba announced L2 passive seismic (interesting technique) showing up a few potentials, for further seismic. L2 I think is on the same trend as L6, sharing a small border.